================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Amendment No. 3
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SCHERER HEALTHCARE, INC.
--------------------------------------------------------------------------------
(Name of issuer)
Common Stock, $.01 Par Value
--------------------------------------------------------------------------------
806530-10-1
--------------------------------------------------------------------------------
(Cusip Number)
Bruce L. Newberg Jon Brooks
11601 Wilshire Boulevard 265 East 66th Street, #25F
Los Angeles, CA 90025 New York, NY 10021
-with copies to-
Joseph F. Mazzella, Esq.
NUTTER MCCLENNEN & FISH
Boston, Massachusetts 02110
(617) 439-2000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
January 8, 2001
--------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
================================================================================
--------------------------------------------------------------------------------
CUSIP No. 806530-10-1 SCHEDULE 13D Page 2 of 6 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
BRUCE L. NEWBERG
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC, OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,748.78
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
-----------------------------------------------------
10. SHARED DISPOSITIVE POWER
3,748.78
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,748.78
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CUSIP No. 806530-10-1 SCHEDULE 13D Page 3 of 6 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
JON BROOKS
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
-----------------------------------------------------
10. SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
CUSIP No. 806530-10-1 SCHEDULE 13D Page 4 of 6 Pages
------------- --- ---
THIS SCHEDULE 13D AMENDS AND SUPPLEMENTS THAT CERTAIN SCHEDULE 13D FILED ON
SEPTEMBER 17 , 1999, AS AMENDED BY AMENDMENT NO. 1 FILED ON JULY 18, 2000, AND
AMENDMENT NO. 2 FILED ON SEPTEMBER 5, 2000.
ITEM 4. PURPOSE OF THE TRANSACTION
The Reporting Persons have disposed of all Common Stock of the Issuer
for the purpose of eliminating all financial and investment exposure to the
financial and operational management decisions undertaken, and which may be
undertaken in the future, by the Company and Robert Scherer, the Company's Chief
Executive Officer.
Over the last two years or more, the Reporting Persons have sought to
have the Issuer's Board of Directors examine or undertake one or more
transactions that could benefit public shareholders of the Issuer, and which
would have one or more of the effects described in Item 4(a) to (j). Such
recommended transactions included payment of dividends, sale or merger of the
Issuer, the repurchase of the Issuer's stock, or acceptance of the Reporting
Persons offer to purchase the Company for a price of $5.00, or higher, per share
in cash. Such proposals were intended to address the stagnation of stockholder
value that occurred during recent years following poor investments of available
cash by the Company and allegations of improper conduct against Robert Scherer,
the Company's chief executive officer.
The Reporting Persons determined to dispose of Common Stock based upon
the Company's repeated failure to adequately address such matters, continued
dispersion of Company assets in questionable outside investments and the failure
of the Company to adequately explain to the Reporting Persons financial
statement reporting uncertainties regarding such investments, including possible
defaults and write-off of investments in Econometrics, Inc.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) The beneficial ownership and voting and dispositive power
of each of the Reporting Persons over Common Stock of the Issuer as of the date
hereof is as follows:
(i) Mr. Newberg currently owns no shares of Common Stock of the Issuer.
However, Mr. Newberg owns shares of Convertible Preferred Stock of the
Issuer which are convertible into 3,747.78 shares of Common Stock.
Thus, Mr. Newburg may be deemed to be the beneficial owner of 3,747.78
shares of Common Stock of the Issuer.
(ii) Mr. Brooks no longer owns any shares of the Common Stock of the Issuer,
either individually or in his Individual Retirement Account Beneficial
ownership of shares held or controlled by Mr. Newberg is hereby
disclaimed by Mr. Brooks
(iii) The number of shares beneficially owned and the percentage of
outstanding shares represented thereby, for each of the Reporting
Persons, have been computed in accordance with Rule 13D-3 under the
Securities Exchange Act of 1934, as amended. The percentages of
ownership described above are based on an aggregate 4,321,165 shares of
Common Stock reported outstanding by the Issuer in 10-Q/A filed on
January 5, 2001
CUSIP No. 806530-10-1 SCHEDULE 13D Page 5 of 6 Pages
------------- --- ---
(c) The following transactions in the Issuer's Common Stock were
effected by the Reporting persons during the sixty (60) days preceding the date
of the report. All of such transactions were open market sales.
Price/share
Reporting Person Date # of Shares ($)
---------------- ---- ----------- -----------
Bruce Newberg 12/26/00 15,700 4.000
1/4/01 15,600 4.000
1/5/01 15,600 4.000
1/9/01 15,600 4.000
1/10/01 137,500 4.000
-------
Total 200,000
Jon Brooks 11/20/00 3,700 3.595
12/22/00 9,300 4.000
1/4/01 9,400 4.000
1/5/01 9,400 4.000
1/9/01 9,400 4.000
1/10/01 80,225 3.9375
-------
Total 121,425
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.
CUSIP No. 806530-10-1 SCHEDULE 13D Page 6 of 6 Pages
------------- --- ---
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Date: January 11, 2001 /s/ Bruce L. Newberg
----------------------
Bruce L. Newberg
Date: January 11, 2000
/s/ Jon Brooks
----------------------
Jon Brooks