8-K

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): June 28, 2006

Commission file number 1-11625

Pentair, Inc.

(Exact name of Registrant as specified in its charter)

Minnesota	41-0907434
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification number)

5500 Wayzata Blvd, Suite 800, Golden Valley, Minnesota	55416
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code: (763) 545-1730

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:

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 (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	ITEM 8.01 Other Events
	ITEM 9.01 Financial Statements and Exhibits
SIGNATURE
EXHIBIT INDEX
Press Release

ITEM 8.01 Other Events

On June 29, 2006, Pentair, Inc. (the “Company”) issued a press release announcing that the jury in the commercial damages portion of the previously disclosed Horizon litigation awarded a verdict on the evening of June 28, 2006 against its subsidiary, Essef Corporation, for $193 million in favor of Celebrity Cruise Lines, Inc. The Company stated that it believes the jury verdict in this case, which began prior to Pentair’s acquisition of Essef, is not consistent with the law nor the evidence offered at trial. The Company also stated it intends to make all appropriate post-trial motions, especially those relating to damage causation and the claim for lost enterprise value. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

ITEM 9.01 Financial Statements and Exhibits

(a)	Financial Statements of Businesses Acquired Not applicable.
(b)	Pro Forma Financial Information Not applicable.
(c)	Shell Company Transactions Not applicable
(d)	Exhibits The following exhibit is provided as part of the information filed under Item 8.01 of this Current Report on Form 8-K:

Exhibit	Description
99.1	Pentair, Inc. press release dated June 29, 2006 announcing a $193 million adverse jury verdict in Horizon litigation.

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, thereunto duly authorized, on June 29, 2006.

PENTAIR, INC.
Registrant
 

By /s/ David D. Harrison  

     David D. Harrison 

     Executive Vice President and Chief Financial Officer
     (Chief Accounting Officer) 

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Pentair, Inc. press release dated June 29, 2006 announcing a $193 million adverse jury verdict in Horizon litigation.

EX-99.1

Pentair, Inc.
5500 Wayzata Blvd., Suite 800
Golden Valley, MN 55416
763 545 1730 Tel
763 656 5400 Fax

News Release

Pentair Announces $193 Million Adverse Jury Verdict in Horizon Litigation

GOLDEN VALLEY, Minn. — June 29, 2006 — Pentair, Inc. (NYSE: PNR) today announced that the jury in the commercial damages portion of the Horizon litigation awarded a verdict last night against its subsidiary, Essef Corporation (Essef). The jury awarded the plaintiff in the case, Celebrity Cruise Lines, Inc. (Celebrity), approximately $193 million exclusive of pre-judgment interest and attorneys fees, the amount of which is subject to further decision and final calculation by the court.

The Company stated that it believes the jury verdict in this case, which began prior to Pentair’s acquisition of Essef, is not consistent with the law nor the evidence offered at trial. The Company also stated it intends to make all appropriate post-trial motions, especially those relating to damage causation and the claim for lost enterprise value.

Pentair Chairman and Chief Executive Officer, Randall J. Hogan, said: “We will pursue all available means to achieve reversal of this jury verdict. Although very disappointing, we will not allow this verdict to distract us from our current focus.”

As previously disclosed, the case arises out of an outbreak of Legionnaire’s Disease on the Horizon cruise ship in 1994. Celebrity sued Essef and certain of its subsidiaries prior to Pentair’s acquisition of Essef in August 1999. Celebrity alleged that it sustained damages resulting from the outbreak, seeking attorney fees and costs for prior litigation as well as out-of-pocket losses, lost profits and loss of business enterprise value.

Pentair is currently assessing the impact of this matter to determine what adjustments to previously established reserves may be necessary. Accordingly, Pentair will update its guidance for 2006 in its earnings release scheduled for July 25, 2006.

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About Pentair, Inc.
Pentair (www.pentair.com) is a diversified operating company headquartered in Minnesota. Its Water Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Pentair’s Enclosures Group is a leader in the global enclosures market, designing and manufacturing standard, modified, and custom enclosures that house and protect sensitive electronics and electrical components. With 2005 revenues of $2.95 billion, Pentair employs approximately 15,000 people worldwide.

Caution concerning forward-looking statements

Any statements made about the company’s anticipated financial results are forward-looking statements subject to risks and uncertainties such as whether the Company’s post-trial motions and appeals will be successful, and the amount of any pre-judgment interest and attorneys which may be awarded. Forward-looking statements included herein are made as of the date hereof, and the company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results.

Pentair Contacts:

Rachael Jarosh	Mark Cain
Communications	Investor Relations
Tel.: (763) 656-5280	Tel.: (763) 656-5278
E-mail: rachael.jarosh@pentair.com	E-mail: mark.cain@pentair.com