0001144204-14-012228.txt : 20140228 0001144204-14-012228.hdr.sgml : 20140228 20140227183313 ACCESSION NUMBER: 0001144204-14-012228 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140227 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140228 DATE AS OF CHANGE: 20140227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SERVICE CORPORATION INTERNATIONAL CENTRAL INDEX KEY: 0000089089 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] IRS NUMBER: 741488375 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06402 FILM NUMBER: 14650796 BUSINESS ADDRESS: STREET 1: 1929 ALLEN PKWY STREET 2: P O BOX 130548 CITY: HOUSTON STATE: TX ZIP: 77019 BUSINESS PHONE: 7135225141 MAIL ADDRESS: STREET 1: P O BOX 130548 CITY: HOUSTON STATE: TX ZIP: 77219-0548 8-K 1 v370034_8k.htm FORM 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) February 27, 2014

 

 

Service Corporation International
(Exact name of registrant as specified in its charter)

 

Texas 1-6402-1 74-1488375

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

 

1929 Allen Parkway  Houston, Texas 77019
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code    (713) 522-5141

 

 
(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 240.13a-4(c))

  

 
 

 

Item 8.01 Other Events

  

On February 27, 2014, Service Corporation International (the “Company”) announced a settlement of the lawsuit involving, among others, our cemetery Eden Memorial Park. In the discussion of the lawsuit in our recently filed Form 10-K, the lawsuit is styled Robert Scott, individually and on behalf of all others similarly situated, v. Eden Memorial Park, et al. (previously styled F. Charles Sands, et al. v. Eden Memorial Park, et al.) Case No. BC421528; in the Superior Court of the State of California for the County of Los Angeles - Central District. This case involves an alleged class action for burial practice claims regarding the cemetery.

 

On February 27, 2014, the trial court preliminarily approved the settlement agreement executed by the parties to the case. All claims under the lawsuit will be released if final court approval of the settlement is obtained. The terms of the settlement call for the establishment of a settlement fund of $35,250,000, to which various SCI insurance carriers will contribute $25,250,000 and the Company will contribute the balance. Other provisions call for, among other things, the Company to contribute up to $250,000 toward claims administration costs and take certain actions in performing future burials. In addition, the Company reserves the right to cancel the settlement in the event a certain number of class members opt out of the settlement. The settlement of this matter will result in a one-time charge of $10.25 million, net of insurance recoveries, which will be reflected as a Corporate General & Administrative expense in our first quarter Statement of Operations.

 

Item 9.01 Financial Statements and Exhibits

  

(d) The following exhibit is included with this report

  

  Exhibit No.   Description
  99.1   Press Release, dated February 27, 2014 announcing the lawsuit settlement.

  

 
 

  

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.

  

 

February 27, 2014 Service Corporation International
     
  By: /s/ Gregory T. Sangalis
    Gregory T. Sangalis
    Senior Vice President
    General Counsel and Secretary

 

 

 EX-99.1 2 v370034_ex99-1.htm EXHIBIT 99.1

Service Corporation International Announces Lawsuit Settlement

HOUSTON, Feb. 27, 2014 /PRNewswire/ -- Service Corporation International (NYSE: SCI) announced today that it has agreed to settle its lawsuit Scott v. SCI et al.

"We are very pleased to put this litigation behind us," said SCI Spokesperson Lisa Marshall. "While we do not believe the allegations represent the standard of care and service our professionals provide, it is in the best interest of our customer families, our shareholders and our associates that we move forward and focus on the work we do every day, serving families with respect, compassion and transparency."

Under terms of the settlement, SCI denies any wrongdoing and agrees to a global, full and final release of all claims arising out of or in connection with the lawsuit. A settlement fund of $35,250,000 will be established. Various SCI insurance carriers will contribute $25,250,000 to that fund with SCI funding the balance.

Steve Gurnee of Gurnee, Mason and Forestiere and lead attorney for SCI stated, "While we certainly understand that our clients wanted to avoid prolonged litigation, I am disappointed that we did not try this case to a conclusion. I am confident that the facts would have established that Eden Memorial Park did not do anything wrong and would have been fully vindicated."

About Service Corporation International

Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America's leading provider of deathcare products and services. At December 31, 2013, we owned and operated 1,644 funeral homes and 514 cemeteries (of which 283 are combination locations) in 43 states, eight Canadian provinces, the District of Columbia, and Puerto Rico. Through our businesses, we market the Dignity Memorial® brand which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at www.sci-corp.com. For more information about Dignity Memorial®, please visit www.dignitymemorial.com.

For additional information contact:






Investors:

Aaron Foley – Managing Director / Assistant Treasurer

(713) 525-9779

Media:

Lisa Marshall - Managing Director / Corporate Communications

(713) 525-3066