SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 2, 2003
Daleen Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-27491 65-0944514
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
902 Clint Moore Road, Suite 230, Boca Raton, Florida 33487
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (561) 999-8000
Item 5. Other Events.
On October 14, 2003, Daleen Technologies, Inc. and Daleen Solutions, Inc., an
indirect wholly owned subsidiary of Daleen Technologies, Inc. (collectively
referred to as the "Company"), together with Albacore Holdings, Inc.
("Albacore") (the Company and Albacore Holdings, Inc. are collectively referred
to as the "Plaintiffs"), filed a Petition in the District Court of Dallas
County, Texas against Houlihan Lokey Howard & Zukin Capital, Inc. and Houlihan
Lokey Howard & Zukin Financial Advisors, Inc. (collectively referred to as
"Houlihan"). The Petition alleges that Houlihan had made repeated demands to
Plaintiffs for payment of transaction fees it alleges are due pursuant to an
engagement letter between Albacore and Houlihan. Plaintiffs seek interpretation
of the engagement letter that to qualify as a contact for purposes of the tail
provision, a communication with a potential investor must have involved the
presentation of detailed, non-public information regarding Albacore to the
potential investor and must go beyond cold calls, form letters and no-name
conversations. Plaintiffs also seek a declaration that no transaction fees are
due from any of the Plaintiffs to Houlihan. On or about November 19, 2003,
Houlihan filed a Notice of Removal removing the case to the United States
District Court for the Northern District of Texas, Dallas Division. On or about
November 26, 2003, Houlihan filed its Answer and Counterclaim. Plaintiffs
received notice of this Answer and Counterclaim on December 2, 2003. The Answer
and Counterclaim requests dismissal of the Petition and seeks a judgment on the
counterclaim in excess of $800,000. If Plaintiffs do not prevail in obtaining
the declaratory judgment that no fees are owed, Houlihan may continue to pursue
payment of transaction fees, or the Court may grant a judgment on the
counterclaim in favor of Houlihan. If a judgment is granted for the entire
amount claimed by Houlihan, it may have an adverse effect on the Company's
business, financial condition and results of operations.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
None.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DALEEN TECHNOLOGIES, INC.
By: /s/ Gordon Quick
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Gordon Quick
President and Chief Executive Officer
Dated: December 8, 2003