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MATX > SEC Filings for MATX > Form 8-K on 22-Jul-2014All Recent SEC Filings

Show all filings for MATSON, INC.

Form 8-K for MATSON, INC.


22-Jul-2014

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01. Entry Into a Material Definitive Agreement.

On July 17, 2014, Matson Navigation Company, Inc. ("Matson Navigation"), a wholly owned subsidiary of Matson, Inc. (the "Company"), entered into a Settlement Agreement (the "Settlement Agreement") with the United States of America, acting through the United States Department of Justice and on behalf of the United States Surface Deployment and Distribution Command ("SDDC"), and Mario Rizzo ("Rizzo") for the settlement of litigation relating to the Company and its affiliates in the case entitled United States of America, ex rel. Mario Rizzo v. Horizon Lines, LLC et al. (the "Litigation Matter"). The terms of the settlement were disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2013.

Under the terms of the Settlement Agreement, Matson Navigation has agreed to pay to the United States $9.0 million in full settlement of all claims in the Litigation Matter. Matson Navigation has also agreed to pay $950,000 to Rizzo for expenses and attorney's fees and costs. The parties to the Settlement Agreement have filed a joint stipulation of dismissal of the Litigation Matter with respect to the Company and its affiliates and released each other from certain claims related to the Litigation Matter. The Settlement Agreement is not an admission of liability by the Company or any of its affiliates.

The foregoing description is qualified in its entirety by the terms and conditions set forth in the Settlement Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.



Item 9.01 Financial Statements And Exhibits.

(d) Exhibits

Exhibit No.                                  Exhibit
10.1          Settlement Agreement dated July 17, 2014 by and among the United
              States of America, acting through the United States Department of
              Justice and on behalf of the United States Surface Deployment and
              Distribution Command, Matson Navigation Company, Inc. (together with
              Matson, Inc., and all affiliated entities) and Mario Rizzo.


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