0000950170-22-003281.txt : 20220310 0000950170-22-003281.hdr.sgml : 20220310 20220310065940 ACCESSION NUMBER: 0000950170-22-003281 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20220309 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20220310 DATE AS OF CHANGE: 20220310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Yellow Corp CENTRAL INDEX KEY: 0000716006 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 480948788 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12255 FILM NUMBER: 22727352 BUSINESS ADDRESS: STREET 1: 10990 ROE AVENUE CITY: OVERLAND PARK STATE: KS ZIP: 66211 BUSINESS PHONE: 913-696-6156 MAIL ADDRESS: STREET 1: 10990 ROE AVENUE CITY: OVERLAND PARK STATE: KS ZIP: 66211 FORMER COMPANY: FORMER CONFORMED NAME: YRC Worldwide Inc. DATE OF NAME CHANGE: 20100303 FORMER COMPANY: FORMER CONFORMED NAME: YRC WORLDWIDE INC DATE OF NAME CHANGE: 20060103 FORMER COMPANY: FORMER CONFORMED NAME: YELLOW ROADWAY CORP DATE OF NAME CHANGE: 20031212 8-K 1 yell-20220309.htm 8-K 8-K
0000716006false00007160062022-03-092022-03-09

 

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): March 09, 2022

 

 

Yellow Corporation

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

0-12255

48-0948788

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

501 Commerce Street, Suite 1120

 

Nashville, Tennessee

 

37203

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (913) 696-6100

 

 

(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:

☐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))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, $0.01 par value per share

 

YELL

 

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

Item 8.01 Other Events.

Yellow Corporation (the “Company”) announced earlier today that it has entered into a settlement agreement with the United States government settling a nearly 13-year-old civil litigation with the Department of Defense (the “DOD”) relating to credits for the reweigh of certain freight shipments between 2005 and 2013, all of which pre-date the Company’s current management. In entering into the settlement agreement, the Company admitted no liability while denying the government’s core allegations. The settlement with the DOD will result in, among other things, a cash payment from the Company of approximately $6.8 million to the DOD and a mutual release of certain claims among the parties to the settlement agreement. A copy of today’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit

Number

 

 

Description

99.1

 

Press Release dated March 10, 2022

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

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 thereunto duly authorized.

 

 

 

YELLOW CORPORATION

 

 

 

 

Date:

March 10, 2022

By:

/s/ Leah K. Dawson

 

 

 

Leah K. Dawson

Executive Vice President, General Counsel and Secretary

 

 EX-99.1 2 yell-ex99_1.htm EX-99.1 EX-99.1

 

Exhibit 99.1

 

 

 

 

 

 

 

 

News Release

 

img234548313_0.jpg 

 

 

Yellow Corporation Settles Decade-Old Dispute with United States Government


NASHVILLE, Tenn., March 10, 2022 – Yellow Corporation (NASDAQ: YELL) is pleased to announce that it has reached an agreement with the United States government, settling a nearly 13-year-old civil litigation with the Department of Defense relating to credits for the reweigh of certain freight shipments between 2005 and 2013, all of which pre-date current management.

In reaching that agreement, Yellow admitted no liability while denying the government’s core allegations. The agreement will enable the company and its 30,000 freight professionals to remain centrally focused on transporting goods for more than 200,000 customers, including the Department of Defense, with whom Yellow has enjoyed a customer relationship dating back to World War ll. The men and women of Yellow take great pride in the critical work they perform each day on behalf of America’s men and women in uniform. As a vital partner in the Department of Defense’s supply chain, Yellow’s freight professionals transport mission-critical goods to and from military installations across the United States.

“We remain confident that we complied with the then-existing rules and our contractual obligations. While we believe we had strong defenses, we decided, in the best interests of all parties, to resolve this matter for a small fraction of the amount originally demanded,” said Leah Dawson, Yellow’s executive vice president and general counsel.

“We are pleased to have come to a resolution,” said Darren Hawkins, CEO of Yellow. “Now we can continue to focus on the important work ahead. With our nation’s current supply chain constraints and the critical role Yellow plays in delivering freight, there’s no time for distraction. Putting this matter behind us also helps Yellow move forward with its corporate mission of transforming our nearly 100-year-old company into one of the nation’s preeminent super-regional and long-haul less-than-truckload carriers.”

 

About Yellow Corporation

Yellow Corporation has one of the largest, most comprehensive logistics and less-than-truckload (LTL) networks in North America with local, regional, national, and international capabilities. Through its teams of experienced service professionals, Yellow Corporation offers industry-leading expertise in flexible supply chain solutions, ensuring customers can ship industrial, commercial, and retail goods with confidence. Yellow Corporation, whose principal office is in Nashville, Tenn., is the holding company for a portfolio of LTL brands including Holland, New Penn, Reddaway, and YRC Freight, as well as the logistics company Yellow Logistics.

Please visit our website at www.myyellow.com for more information.

Media Contacts: Mike Kelley

913-696-6121

mike.kelley@myyellow.com

Heather Nauert

heather.nauert@myyellow.com

Investor Contact: Tony Carreño

913-696-6108

investor@myyellow.com

 

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Document And Entity Information
Mar. 09, 2022
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Mar. 09, 2022
Entity Registrant Name Yellow Corporation
Entity Central Index Key 0000716006
Entity Emerging Growth Company false
Entity File Number 0-12255
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 48-0948788
Entity Address, Address Line One 501 Commerce Street, Suite 1120
Entity Address, City or Town Nashville
Entity Address, State or Province TN
Entity Address, Postal Zip Code 37203
City Area Code (913)
Local Phone Number 696-6100
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value per share
Trading Symbol YELL
Security Exchange Name NASDAQ
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