UNITED STATES
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): October 13, 2017
WESTWOOD HOLDINGS GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware | 001-31234 | 75-2969997 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||
200 Crescent Court, Suite 1200
Dallas, Texas 75201
(Address of principal executive offices, including zip code)
(214) 756-6900
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 | Other Events. |
On October 13, 2017, Westwood Holdings Group, Inc. (“Westwood”) and AGF Investments Inc. (“AGF”) entered into a settlement relating to the previously disclosed litigation between the parties. Westwood has agreed to make a one-time payment to AGF of $10 million Canadian before any recovery of insurance proceeds. The settlement provides for the dismissal of all claims, with prejudice and without any admission of liability. Pursuant to the settlement, the parties released a joint public statement on October 19, 2017, which is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Westwood Holdings Group, Inc. Settles Lawsuit
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.
WESTWOOD HOLDINGS GROUP, INC. | ||||||
Date: | October 19, 2017 | /s/ Brian. O. Casey | ||||
Brian O. Casey | ||||||
President & Chief Executive Officer | ||||||
EXHIBIT INDEX
Exhibit No. Description
99.1 |
Westwood Holdings Group, Inc. Settles Lawsuit
DALLAS, October 19, 2017 (GLOBE NEWSWIRE) – AGF, Westwood, Patricia Perez-Coutts and a number of related parties wish to announce that they have resolved the AGF and Westwood actions arising from the simultaneous resignations of Ms. Perez-Coutts and four other employees of AGF in 2012, who left to join Westwood. Westwood has made a substantial payment to AGF in order to resolve these matters. Neither party admitted liability, nor any of the allegations in any of the actions.
Blake Goldring, CEO of AGF, and Brian Casey, CEO of Westwood, both believe the resolution is fair and reasonable and in the best interests of their companies and shareholders. They are pleased to put these matters behind them. The settlement does not materially impact the operations of either party and is not anticipated to affect their clients.
About Westwood
Westwood Holdings Group, Inc. provides investment management services to institutional investors, private wealth clients and financial intermediaries. With $22.6 billion in assets under management (as of June 30, 2017), the firm offers a range of investment strategies including U.S. equities, Master Limited Partnerships (MLPs), Multi-Asset, Global and Emerging Markets equities, and Global Convertible securities portfolios. Access to these strategies is available through separate accounts, the Westwood Funds family of mutual funds, UCITS funds and other pooled vehicles. Westwood benefits from significant, broad-based employee ownership and trades on the New York Stock Exchange under the symbol “WHG.” Based in Dallas, Westwood also maintains offices in Toronto, Boston, Omaha and Houston.
For more information on Westwood, please visit www.westwoodgroup.com.
For more information on the Westwood Funds®, please visit www.westwoodfunds.com.
(WHG-G)
Contact: Julie Gerron
Telephone: 214-756-6900