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): | August 24, 2005 |
Symbol Technologies, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware | 1-9802 | 112308681 |
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
One Symbol Plaza, Holtsville, New York | 11742 | |
_________________________________ (Address of principal executive offices) | ___________ (Zip Code) |
Registrant’s telephone number, including area code: | (631) 738-2400 |
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:
[ ] 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 240.13e-4(c))
Item 8.01 Other Events.
On August 24, 2005, Symbol Technologies, Inc., announced that its wholly owned subsidiary, Telxon Corporation ("Telxon"), had settled a lawsuit against its former auditors, PricewaterhouseCoopers LLP ("PwC"). The settlement agreement calls for PwC to pay Telxon $18 million by September 30, 2005. PwC will also pay Telxon an additional $1 million if PwC reaches a settlement agreement with the class before certain motions now pending are decided in a related shareholder class action lawsuit.
Pursuant to the terms of a separate settlement agreement between Telxon and the class, approved by the United States District Court in the Northern District of Ohio in February 2004, Telxon will pay up to $3 million of the proceeds from this PwC settlement to the class.
A copy of the press release announcing Telxon's settlement with PwC is included as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release, dated August 24, 2005
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.
Symbol Technologies, Inc. | ||||
August 24, 2005 | By: | Salvatore Iannuzzi | ||
Name: Salvatore Iannuzzi | ||||
Title: Senior Vice President, Chief Administrative and Financial Officer |
Exhibit Index
Exhibit No. | Description | |
99.1 | Press Release, dated August 24, 2005 |