UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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) May 24, 2007
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INVACARE CORPORATION
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(Exact name of registrant as specified in its charter)
Ohio 1-15103 95-2680965
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
One Invacare Way, P.O. Box 4028, Elyria, Ohio 44036
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (440) 329-6000
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
The Company recently became aware of a potential embezzlement at one of
Invacare's foreign facilities, which is being investigated by the local
authorities. The embezzlement is believed to have occurred from January 2005
through March 2007. The Company's internal audit function is currently
performing both an internal audit and a forensic audit into this situation. The
Company carries insurance on employee dishonesty in the amount of $5 million and
believes it will recover the entire amount of that policy after completion of
the necessary paperwork. The Company does not believe the impact of the
embezzlement and the related insurance proceeds will have a significant impact
on its financial results, operations or plans and believes that the appropriate
internal controls were in place but were circumvented by collusion.
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.
Invacare Corporation
(Registrant)
Date: May 24, 2007 /s/ Gregory C. Thompson
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Gregory C. Thompson
Senior Vice President and
Chief Financial Officer