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) March 7, 2000
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PS Business Parks, Inc.
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(Exact name of registrant as specified in its charter)
California 1-10709 95-4300881
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(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
701 Western Avenue, Glendale, California 91201-2349
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (818) 244-8080
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N/A
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(Former name or former address, if changed since last report)
Item 5. Other Events
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On November 3, 1999, the Company filed an action entitled PS Business
Parks, Inc. v. Larry Howard, et al. (Case No. BC219580) in the Los Angeles
Superior Court seeking damages in excess of $1 million, as well as equitable
relief. The complaint alleges that Mr. Howard and entities controlled by him
engaged in unfair trade practices, including (1) negotiating kickbacks, secret
rebates and/or unearned discounts from third party suppliers for "providing"
Company business to those suppliers and (2) disrupting the Company's
relationship with various suppliers. Mr. Howard is not an officer, employee or
authorized agent of the Company.
On or about February 14, 2000, Mr. Howard and entities controlled by
him filed a cross-complaint against the Company, Public Storage, Inc., and
several other cross-defendants alleging, among other things, (1) interference
with Mr. Howard's contractual relations with various third party suppliers, (2)
violation of Title VII of the Civil Rights Act and (3) abuse of process. None of
the cross-complainants assigned any dollar amount in the cross-complaint to the
claims. The Company intends to vigorously contest the claims in the
cross-complaint.
Mary Jayne Howard, executive vice president of the Company, is married
to Mr. Howard. On March 7, 2000, Ms. Howard ceased employment with the Company.
Ronald L. Havner, Jr., chief executive officer of the Company, has assumed Ms.
Howard's operational responsibilities.
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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.
PS BUSINESS PARKS, INC.
By: /S/ DAVID GOLDBERG
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David Goldberg
Vice President
Date: March 7, 2000
