UNITED STATES
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
Date of report (Date of earliest event reported): November 11, 2010
WRIGHT MEDICAL GROUP, INC.
(Exact name of registrant as specified in charter)
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| Delaware
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000-32883
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13-4088127 |
(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification Number) |
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5677 Airline Road, Arlington, Tennessee
(Address of principal executive offices)
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38002
(Zip Code) |
Registrant’s telephone number, including area code: (901) 867-9971
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Litigation Settlement
On November 11, 2010, we entered into settlement agreements with each of our former employees in
Toulon, France who had filed claims to challenge the economic justification for their dismissal
following the closure of our Toulon, France facility. Under the settlement agreements, we will pay
the former employees an aggregate amount of approximately $4.5 million, plus any additional amounts
that may be payable under French law, including payments for unemployment and social security. We
have previously paid approximately $1.3 million of this amount. The remaining $3.2 million is
expected to be paid during the fourth quarter of 2010.
Management previously recorded a provision related to this litigation. The remaining provision for
these cases totaled approximately $3.4 million, which will be sufficient to pay the remaining
amount under the settlement agreements, as well as the additional amounts payable under French law.
Therefore, the settlement of this litigation will not have a material impact to our results of
operations.
These settlements close all outstanding litigation related to the closure of our facility in
Toulon, France, and reflect the completion of activity associated with our French restructuring
efforts.
This current report contains “forward-looking statements” as defined under U.S. federal securities
laws. These statements reflect management’s current knowledge, assumptions, beliefs, estimates,
and expectations and express management’s current views of future performance, results, and trends
and may be identified by their use of terms such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” and other similar terms.
Forward-looking statements are subject to a number of risks and uncertainties that could cause our
actual results to materially differ from those described in the forward-looking statements. Such
risks and uncertainties include the impact of our settlement of the federal investigation into our
consulting arrangements with orthopaedic surgeons relating to its hip and knee products in the
United States, including our compliance with a Deferred Prosecution Agreement through September
2011 and a Corporate Integrity Agreement through September 2015, and those risks and uncertainties
discussed in our filings with the Securities and Exchange Commission (including those described in
Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2009, under the heading,
“Risk Factors” and in Item 1A of Part II of our 10-Qs filed during 2010) and the final
determination of the additional amounts payable under French law. Readers should not place undue
reliance on forward-looking statements. Such statements are made as of the date of this current
report, and we undertake no obligation to update such statements after this date.
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