UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 22, 2010
CROWN HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania | 0-50189 | 75-3099507 | ||
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
One Crown Way, Philadelphia, PA | 19154-4599 | |||
(Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code 215-698-5100
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 (17CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition
On October 22, 2010, the Texas Supreme Court, in a 6-2 decision, reversed a lower court decision, Barbara Robinson v. Crown Cork & Seal Company, Inc., No. 14-04-00658-CV, Fourteenth Court of Appeals, Texas, which had upheld the dismissal of an asbestos-related case against Crown Cork & Seal Company, Inc (“Crown Cork”), a wholly-owned subsidiary of Crown Holdings, Inc. (the “Company”). The lower court decision was based on a change to Texas corporate successor liability law enacted in June 2003 by the Texas legislature.
The Texas Supreme Court held that the Texas legislation was unconstitutional under the Texas Constitution when applied to asbestos-related claims pending against Crown Cork when the Texas legislation was enacted in June of 2003.
Crown believes that the decision of the Texas Supreme Court is limited to retroactive application of the Texas legislation to asbestos-related cases that were pending against Crown Cork in Texas on June 11, 2003. Effective during the third quarter of 2010 the Company recorded a pre-tax charge of $15 million to increase its accrual for asbestos related costs for claims pending on June 11, 2003. Attached as Exhibit 99.1 is updated financial information for the third quarter of 2010.
The information in this Report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or otherwise subject to the liability of that section, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
The following is furnished as an exhibit to this report.
(d) Exhibits:
Exhibit 99.1 Updated Financial Information.
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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.
| CROWN HOLDINGS, INC. |
| By: | /s/ Kevin C. Clothier | |
| Kevin C. Clothier | ||
| Vice President and Corporate Controller | ||
Dated: October 25, 2010
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EXHIBIT INDEX
| (d) Exhibits: | ||
| Exhibit99.1 | Updated Financial Information | |
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