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
July 29, 2009
Date of Report (Date of earliest event reported)
PRG-Schultz International, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Georgia
(State or Other Jurisdiction of Incorporation)
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0-28000
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58-2213805 |
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(Commission File Number)
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(IRS Employer Identification No.) |
600
Galleria Parkway, Suite 100, Atlanta, Georgia
30339-5949
(Address of Principal Executive Offices) (Zip Code)
770-779-3900
(Registrants Telephone Number, Including Area Code)
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 (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 (17
CFR 240.13e-4(c))
Item 8.01. Other Events.
On July 29, 2009, PRG-Schultz International, Inc. (the Company) entered into a settlement
agreement in connection with the previously disclosed lawsuit filed against the Company by the
Fleming Post Confirmation Trust (PCT), a trust created pursuant to Fleming Companies Chapter 11
reorganization plan. Fleming was one of the Companys larger
customers at the time Fleming filed for
Chapter 11 bankruptcy reorganization on April 1, 2003.
Under the terms of the settlement agreement, the Company will pay PCT $1.65 million to resolve all
claims made by PCT with respect to approximately $5.6 million in payments made to the Company by
Fleming during the 90 days preceding Flemings bankruptcy filing that were alleged to be either
preference payments or fraudulent transfers under the Bankruptcy Code. In connection with the
settlement, the Company has also agreed to dismiss all proofs of claim it may have against Fleming
in connection with the bankruptcy.