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): July 13, 2011 (July 7, 2011)
LOJACK CORPORATION
(Exact name of registrant as specified in its charter)
| Massachusetts | 001-08439 | 04-2664794 | ||
| (State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 200 Lowder Brook Drive, Suite
1000, Westwood, Massachusetts |
02090 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: 781-251-4700
| (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 obligation of the registrant under any of the following provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01. OTHER EVENTS.
As previously reported on Form 8-K filed by LoJack Corporation (the “Company”) on March 23, 2011, the Company received a demand for arbitration with the American Arbitration Association on March 21, 2011. The demand was filed by Global Tracking Tech., Ltd. and Tracker do Brasil LTDA, which are licensed to use the LoJack technology in Brazil. The claim alleges that the Company failed to maintain a patent for the stolen vehicle recovery system in Brazil and the claims include breach of contract, breach of the implied covenant of good faith and fair dealing, and violation of Mass. Gen Laws c. 93A. The claimant seeks $111,500,000 in actual damages, treble damages, and attorneys’ fees and costs. On May 11, 2011, the American Arbitration Association administratively closed this matter at this time.
Also on March 21, 2011, the Company received a separate demand for arbitration with the American Arbitration Association, filed by the same parties, alleging breach of contract, breach of the implied covenant of good faith and fair dealing and violation of Mass. Gen. Laws c. 93A relating to product pricing and the fulfillment of purchase orders to the licensee. The claimant seeks, amongst other things, $289,500,000 in actual damages, treble damages, attorneys’ fees, and declaratory and injunctive relief. On July 6, 2011, claimants voluntarily withdrew their application for arbitration and Tracker do Brasil LTDA commenced the below discussed lawsuit against LoJack Equipment Ireland, Ltd. (“LoJack Ireland”) requesting that a Massachusetts Court order LoJack Ireland to submit to arbitration before the American Arbitration Association’s International Centre for Dispute Resolution, without limitation or precondition.
On July 7, 2011, LoJack Ireland was served by Tracker do Brasil LTDA with the aforementioned lawsuit which was filed in Norfolk Superior Court in Massachusetts. The lawsuit alleges interference with contractual relations, fraud/intentional misrepresentation, negligent misrepresentation, breach of contract, breach of the implied covenant of good faith and fair dealing and violation of Mass. Gen Laws c. 93A relating to product pricing and the fulfillment of purchase orders for the licensee. The claimant seeks, amongst other things, $289,500,000 in actual damages, treble damages, attorneys’ fees, and declaratory and injunctive relief. The claimant also seeks a court order compelling arbitration and staying the case in Norfolk Superior Court during the pendency of the arbitration.
The Company considers the allegations by the licensee to be without merit and intends to fully defend itself in these matters.
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.
LOJACK CORPORATION
(Registrant)
By: /s/Kathleen P.
Lundy
Kathleen
P. Lundy, Vice President
and General Counsel
Date: July 13, 2011