0001104659-11-018167.txt : 20110401 0001104659-11-018167.hdr.sgml : 20110401 20110401115410 ACCESSION NUMBER: 0001104659-11-018167 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110330 ITEM INFORMATION: Other Events FILED AS OF DATE: 20110401 DATE AS OF CHANGE: 20110401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: THOMAS GROUP INC CENTRAL INDEX KEY: 0000900017 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 720843540 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22010 FILM NUMBER: 11729538 BUSINESS ADDRESS: STREET 1: 5221 N OCONNOR BLVD STE 500 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 9728693400 MAIL ADDRESS: STREET 1: 5221 N OCONNOR SUITE 500 CITY: IRVING STATE: TX ZIP: 75039 8-K 1 a11-9170_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

 

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 30, 2011

 

Thomas Group, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

0-22010

 

72-0843540

(State or other jurisdiction of

incorporation)

 

(Commission File

Number)

 

(I.R.S. Employer Identification

No.)

 

5221 N. O’Connor Blvd., Suite 500
Irving, Texas

 

75039

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s Telephone Number, including area code:  (972) 869-3400

 

Not Applicable

(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:

 

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))

 

 

 


 

Item 8.01.              Other Events.

 

On March 30, 2011, Thomas Group, Inc. (the “Company”) entered into a Confidential Compromise Settlement Agreement and Release (the “Settlement Agreement”) with Earle Steinberg (“Mr. Steinberg”), the former Chief Executive Officer and President of the Company.  The Settlement Agreement provides for the settlement and dismissal, with prejudice, of the lawsuit filed by Mr. Steinberg in May 2010 claiming that the Company breached Mr. Steinberg’s  employment agreement following Mr. Steinberg’s removal from office in December 2009, a claim which the Company denied.

 

At December 31, 2010, the Company had expensed approximately $207,000 potentially due under Mr. Steinberg’s employment agreement as well as approximately $36,000 in legal fees related to this matter. The Company incurred additional legal expense of approximately $15,000 in the quarter ended March 31, 2011. Additional legal fees on behalf of the Company’s defense were covered by insurance.

 

The final settlement pursuant to the Settlement Agreement resulted in Other Income during the quarter ended March 31, 2011 of approximately $145,000. Total net costs to the Company were approximately $113,000 for legal expenses and settlement costs relating to Mr. Steinberg’s claim.

 

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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.

 

 

 

THOMAS GROUP, INC.

 

 

 

 

 

 

Date: April 1, 2011

By:

/s/ Frank W. Tilley

 

 

Frank W. Tilley

 

 

Chief Financial Officer

 

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