ARMSTRONG WORLD INDUSTRIES, INC. (NYSE:AWI) Files An 8-K Other Events
Item 8.01
Other Events.
On April 3, 2019, Armstrong World Industries, Inc. (“Armstrong”) and Roxul USA, Inc. (“Rockfon”) entered into a confidential settlement agreement to fully resolve the litigation between them that was pending in the U.S. District Court for the District of Delaware (“Court”).All claims in the litigation will be fully and finally dismissed and released with Armstrong making a payment to Rockfon for its costs, expenses and attorneys’ fees. to the settlement, both parties acknowledge that (a) Armstrong denies all claims of wrongdoing and makes no admission of wrongdoing or of the truth of any of the claims or allegations contained in Rockfon’s complaint or otherwise alleged in the litigation; (b) all Armstrong exclusive distribution locations (i.e., any location where a reseller has agreed to sell only Armstrong ceiling system products) will remain exclusive to Armstrong under their respective distribution agreements, and (c) in all other non-exclusive or “open” distribution locations, resellers are free to purchase and resell ceiling systems products of any manufacturer at their discretion.
On April 3, 2019, Rockfon filed a Stipulation of Dismissal with Prejudice (“Dismissal”) with the Court. to the Dismissal, Rockfon formally dismissed all claims it had against Armstrong with prejudice and the pending trial between the parties was vacated.
About ARMSTRONG WORLD INDUSTRIES, INC. (NYSE:AWI)
Armstrong World Industries, Inc. is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate. Its brands include Armstrong, Alterna, BBT, BioBased Tile, BioGuard, Bruce, Cirrus, Dune, Excelon, Huiyi, Imperial, Initiator, Laurel, Luxe Plank, Medintech, MetalWorks, Optima and Perla.
