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 10, 1998
PITTWAY CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 13-5616408
(State or other jurisdiction (IRS Employer
of incorporation) Identification Number)
1-4821
(Commission File Number)
200 South Wacker Drive, Suite 700, Chicago, Illinois 60606-5802
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (312) 831-1070
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
On March 10, 1998, Registrant announced that a jury in the U.S.
District Court in St. Paul, Minneosta handed down a verdict the
previous day in ITI's patent suit against the Registrant relating to
ITI's U.S. Patent 4,855,713. The patent relates to a method of
entering wireless transmitter identity codes into security system
control panels. The jury verdict awarded damages of approximately
$36 million. The Registrant intends to appeal the verdict. The
announcement is more fully described in the press release filed as
Exhibit 99 hereto, the first two paragraphs and last paragraph of
which press release are hereby incorporated by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
Sequentially
Exhibit No. Description Numbered Pages
99 Press release 3
dated March 10, 1998
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.
PITTWAY CORPORATION
(Registrant)
Dated: March 10, 1998 By: /s/ Paul R. Gauvreau
Paul R. Gauvreau
Financial Vice President
and Treasurer
- 2 -
Exhibit 99
FROM: Edelman Worldwide FOR: Pittway Corporation
Financial Relations 200 South Wacker Drive
200 East Randolph Drive Suite 700
Chicago, Illinois 60601 Chicago, IL 60606-5802
Phone: (312) 240-2640 Phone: (312) 831-1070
FOR IMMEDIATE RELEASE
For further information contact Mark McCall at Edelman
or Edward J. Schwartz at Pittway.
Chicago, Illinois, March 10, 1998 -- Pittway Corporation (NYSE:PRYA)
reported that a jury in the U.S. District Court in St. Paul, Minneosta
yesterday handed down a verdict in ITI's patent suit against Pittway
relating to ITI's U.S. Patent 4,855,713. The patent relates to a method
of entering wireless transmitter identity codes into security system
control panels. The jury verdict awarded damages of approximately $36
million. Pittway intends to appeal the verdict.
In 1997, Pittway introduced an improved method of enrolling
transmitters in its Vista series of control panels. This method was not
at issue in the ITI litigation. Pittway believes that this verdict will
not affect its ability to ship products and meet the needs of its
customers.
Pittway manufactures and distributes burglar and commercial fire alarm
equipment and other low voltage products, publishes and prints trade
magazines and directories and produces trade shows, conferences and
direct mail marketing materials.
This press release contains certain forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995. These
statements may be identified by the use of forward-looking terminology.
Such statements involve risks or uncertainties, including the ultimate
disposition of the foregoing matter, and are qualified in their entirety
by the cautions contained in reports and documents filed by Pittway with
the Securities and Exchange Commission.
