-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CXGVygORab03eVhIWHlUgbFsCdLD/bNS40ESQN+tZTZe9xDkqkfWcH1UfMWB3pWz 7JlyPbm6HsAPDFmiEpWKSw== 0001171520-03-000048.txt : 20030225 0001171520-03-000048.hdr.sgml : 20030225 20030225170751 ACCESSION NUMBER: 0001171520-03-000048 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030225 ITEM INFORMATION: Other events FILED AS OF DATE: 20030225 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WATTS INDUSTRIES INC CENTRAL INDEX KEY: 0000795403 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FABRICATED METAL PRODUCTS [3490] IRS NUMBER: 042916536 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11499 FILM NUMBER: 03579622 BUSINESS ADDRESS: STREET 1: 815 CHESTNUT ST CITY: NORTH ANDOVER STATE: MA ZIP: 01845 BUSINESS PHONE: 9786881811 MAIL ADDRESS: STREET 1: 815 CHESTNUT STREET CITY: NORTH ANDOVER STATE: MA ZIP: 01845 8-K 1 d1120.txt WATTS INDUSTRIES, INC. 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 25, 2003 Watts Industries, Inc. (Exact name of Registrant as specified in its charter) Delaware 1-11499 04-2916536 (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation) Number) Identification No.) 815 Chestnut Street North Andover, MA 01845 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (978) 688-1811 ITEM 5. Other Events and Required FD Disclosure As referenced in the Form 8-K filed with the Securities and Exchange Commission ("SEC") on August 20, 2002, the SEC commenced a civil action on August 15, 2003 against Timothy P. Horne, a member of our Board of Directors, our controlling stockholder, and former Chief Executive Officer and Chairman, alleging that Mr. Horne received confidential information as an officer of Watts Industries, Inc. (the "Company") and used it to profit from trading he did in shares of Central Sprinkler Corp. in May 1999. The complaint alleged violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder based on insider trading. Mr. Horne has entered into an agreement with the SEC to settle the civil action. Pursuant to the agreement, Mr. Horne, without admitting or denying the allegations of the complaint filed by the SEC, has consented to the entry of a final judgment against him which requires him to disgorge profits gained as a result of the conduct alleged in the complaint, pay prejudgment interest, plus a civil money penalty, and which permanently restrains and enjoins him from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. As previously announced in a press release issued by the Company on December 6, 2002, Michael O. Fifer, our former President of North American Operations, has left the Company. 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. WATTS INDUSTRIES, INC. Date: February 25, 2003 By: --------------------------------- /s/ William C. McCartney Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----