-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ThZcnL1XjV6MOYo6Ko8TyLejrYTiRZjBj+O+XW2wbRd6FEUxwgY6DSlpaZazikUh 9VhpV12/myKJJmY0zXGYRg== 0001015402-05-003421.txt : 20050714 0001015402-05-003421.hdr.sgml : 20050714 20050714155117 ACCESSION NUMBER: 0001015402-05-003421 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050713 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050714 DATE AS OF CHANGE: 20050714 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CCC INFORMATION SERVICES GROUP INC CENTRAL INDEX KEY: 0001017917 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 541242469 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28600 FILM NUMBER: 05954580 BUSINESS ADDRESS: STREET 1: WORLD TRADE CENTER CHICAGO STREET 2: 444 MERCHANDISE MART CITY: CHICAGO STATE: IL ZIP: 60654 BUSINESS PHONE: 3122224636 MAIL ADDRESS: STREET 1: 444 MERCHANDISE MART CITY: CHICAGO STATE: IL ZIP: 606541005 8-K 1 body.htm CCC INFORMATION SERVICES 8-K 7-13-2005 CCC Information Services 8-K 7-13-2005


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): July 13, 2005


       CCC Information Services Group Inc.    

(Exact name of registrant as specified in its charter)

Delaware
000 - 28600
54-1242469
     
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)


World Trade Center Chicago
444 Merchandise Mart
Chicago, Illinois 60654

(Address of Principal Executive Offices)

---------------------------------

312-222-4636

(Registrant’s telephone number, including area code)

---------------------------------

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):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))
 




Item 1.01.   Entry into a Material Definitive Agreement.

On July 13, 2005, CCC Information Services Inc., a subsidiary of CCC Information Services Group Inc., announced that it and 15 of its customers signed a settlement agreement with the plaintiffs in various class action suits pending in Madison County, Illinois. These consolidated suits, In re Total Loss Class Action Litigation, Case Nos. 01 L 157, et al., relate to the valuation of vehicles that have been declared total losses by insurers. A copy of the press release issued by CCC with respect to this matter is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. For additional information concerning this litigation, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2004 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2005.

Item 9.01.   Financial Statements and Exhibits

(c)
Exhibits

 
99.1
Press Release issued July 13, 2005.



SIGNATURES


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.


Dated: July 14, 2005
CCC INFORMATION SERVICES GROUP INC.
     
     
   
By:/s/Robert S. Guttman                       .
   
           Robert S. Guttman
   
           Senior Vice President, General Counsel and Secretary
 


EXHIBIT INDEX
 
 
Exhibit
Number
Description
   
99.1
Press Release issued July 13, 2005.
 
 

EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1


EXHIBIT 99.1
 
 
CCC Announces Signing Of Settlement Agreement In National
Class Action Litigation Pending in Madison County, IL

Settlement calls for resolution of class action suits against the Company in Madison County involving its valuation product but includes no admission of fault 

CHICAGO, July 13, 2005 - CCC Information Services Inc., a subsidiary of CCC Information Services Group Inc. (Nasdaq: CCCG), today announced it and 15 of its customers signed a settlement agreement with the plaintiffs in various class action suits pending in Madison County, Illinois. These consolidated suits, In re Total Loss Class Action Litigation, Case Nos. 01 L 157, et al., relate to the valuation of vehicles that have been declared total losses by insurers. This settlement includes no admission of liability or wrongdoing by CCC or its customers. The proposed classes represent all customers of the settling carriers who had a total loss claim from January 28, 1989 to the present, for which CCC’s product and service (now called CCC Valuescope®) were used to perform the valuation.

The settlement itself is subject to Court approval, and a motion seeking preliminary approval of the settlement was filed with the Court today. Notice to members of the settling classes will then be issued, and the Company anticipates that a final approval hearing will take place before the end of the year.

“We are pleased that we have been able to work with our participating insurance company customers and agree upon terms that are equitable for all involved,” said Robert S. Guttman, Senior Vice President and General Counsel for CCC. “The Company has a strong belief in the integrity and accuracy of our valuation product and service. We concluded, however, that settlement of these suits is the best course of action in order to avoid further protracted litigation, expense and distraction.”

Terms of the settlement agreement will require CCC to pay notice and administration fees and other costs associated with the settlement. The Company estimates that these costs will total approximately $8 million, and including available insurance proceeds of $1.8 million, the Company is fully reserved for these payments. Other settlement costs, including claims by class members, will be paid by the insurance companies that are participating in the settlement. In addition to its settlement contribution, CCC will also engage the services of an independent, third party as a Court-appointed monitor to periodically review CCC Valuescope’s methodology for five years following settlement and to oversee the performance of various product validation studies.

About CCC
 
CCC Information Services Group Inc. (NASDAQ: CCCG), headquartered in Chicago, is a leading supplier of advanced software, communications systems, Internet and wireless-enabled technology solutions to the automotive claims and collision repair industries. Its technology-based products and services optimize efficiency throughout the entire claims management supply chain and facilitate communication among approximately 21,000 collision repair facilities, 350 insurance companies, and a range of industry participants. For more information about CCC Information Services, visit CCC’s Web site at www.cccis.com.
 
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor provisions of those sections and the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in the Company’s filings with the SEC, and that actual results or developments may differ materially from those in the forward-looking statements. Specific factors that might cause actual results to differ from expectations include, but are not limited to, competition in the automotive claims and collision repair industries, the ability to develop new products and services, the prolonged sales and implementation cycles of some of the Company’s new products, the ability to protect trade secrets and proprietary information, the ability to generate the cash flow necessary to meet the Company’s obligations, the outcome of certain legal proceedings including court approval of class action litigation and negotiation of settlement documentation, and other factors. The Company cannot predict whether other existing cases relating to total loss valuations can be resolved on comparable terms or whether additional suits may be filed in the future. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis, judgment, belief or expectation only as of the date hereof. The Company has based these forward-looking statements on information currently available and disclaims any intention or obligation to update or revise any forward-looking statement.


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