FTI CONSULTING, INC. (NYSE:FCN) Files An 8-K Other Events
Item8.01 Other Events
On May18, 2017, the Board of Directors (the Board) of FTI
Consulting, Inc. (FTI Consulting) authorized an additional $100.0
million to repurchase shares of FTI Consultings outstanding
common stock to its stock repurchase program authorized by the
Board on June2, 2016, for an aggregate authorization of $200.0
million. As of May18, 2017, FTI Consulting has repurchased
2,394,847 shares of its outstanding common stock at an average
price per share of $38.61 for an aggregate cost of approximately
$92.5 million. After giving effect to share repurchases through
such date and the increased authorization, FTI Consulting has
approximately $107.5 million remaining available for common share
repurchases under the program. No time limit was established for
the completion of the program, and the program may be suspended,
discontinued or replaced by the Board at any time without prior
notice.
Under the program, FTI Consulting may repurchase shares in
open-market purchases or any other method in accordance with all
applicable securities laws and regulations. The specific timing
and amount of repurchases will be determined by FTI Consultings
management, in its discretion, and will vary based on market
conditions, securities law limitations and other factors. The
repurchases may be funded using available cash on hand or a
combination of cash and available borrowings under FTI
Consultings senior secured revolving bank credit facility.
FTI Consulting issued a press release on May19, 2017 announcing
the Board authorization to increase the stock repurchase program.
A copy of the press release is being furnished as Exhibit 99.1 to
this Current Report on Form 8-K and is hereby incorporated by
reference herein.
This Current Report on Form 8-K includes forward-looking
statements within the meaning of Section27A of the Securities Act
of 1933, as amended, and Section21E of the Securities Exchange
Act of 1934, as amended, which involve uncertainties and risks.
Forward-looking statements include statements, without
limitation, regarding plans for share repurchases. When used in
this press release, words such as estimates, expects,
anticipates, projects, plans, intends, believes, forecasts, may
and variations of such words or similar expressions are intended
to identify forward-looking statements. All forward-looking
statements are based upon FTI Consultings expectations at the
time it makes them and various assumptions. FTI Consultings
expectations, beliefs and projections are expressed in good
faith, and it believes there is a reasonable basis for them.
However, there can be no assurance that managements plans will be
achieved. Factors that could cause changes to FTI Consultings
plans include risks described under the heading Item 1A Risk
Factors in FTI Consultings most recent Form 10-K and in FTI
Consultings other filings with the Securities and Exchange
Commission. FTI Consulting is under no duty to update any of the
forward-looking statements to conform such statements to actual
results or events and does not intend to do so.
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| ITEM9.01. | Financial Statements and Exhibits |
(d) Exhibits.
|
Exhibit No. |
Description |
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| 99.1 | Press Release dated May19, 2017 of FTI Consulting, Inc. |
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About FTI CONSULTING, INC. (NYSE:FCN)
FTI Consulting, Inc. (FTI Consulting) is a business advisory firm. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. Its Corporate Finance & Restructuring segment focuses on strategic, operational, financial and capital needs of businesses around the world. Its Forensic and Litigation Consulting segment provides law firms, companies, government clients and other interested parties with dispute advisory, investigations, data analytics and risk mitigation services, as well as interim management and performance improvement services for its health solutions practice clients. Its Economic Consulting segment provides law firms, companies, government entities and other interested parties with analysis of complex economic issues for use in legal, regulatory and international arbitration proceedings, strategic decision making and public policy debates. FTI CONSULTING, INC. (NYSE:FCN) Recent Trading Information
FTI CONSULTING, INC. (NYSE:FCN) closed its last trading session up +0.50 at 34.62 with 228,946 shares trading hands.