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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): September 3, 1997
ITRON, INC.
(Exact name of registrant as specified in charter)
Washington 0-22418
(State or other jurisdiction of incorporation) (Commission File Number)
91-101179
(IRS Employer Identification No.)
2818 North Sullivan Road
Spokane, Washington 99216-1897
(Address of principal executive offices) (Zip Code)
(509) 924-9900
(Registrant's telephone number, including area code)
Item 5. Other Events
Itron has received a complaint which was filed in the Superior Court of
the State of Washington, County of Spokane, (Civil Action No. 97204889-8)
against the Company, its President and Chief Executive Officer, Johnny M.
Humphreys, Itron Board Chairman Paul A. Redmond, Itron Director Jon E. Eliassen,
and Washington Water Power Company. The complaint, filed by plaintiff Katya M.
Haub, purports to be brought on behalf of herself and a class of all others
similarly situated. The class period alleged is identical to that alleged in a
previously-filed proposed class action (Epstein v. Itron, et al.) filed in the
United States District Court for the Eastern District of Washington at Spokane.
The complaint alleges, among other matters, that the defendants are liable for
claims made under the Washington State Securities Act, the Washington State
Consumer Protection Act, and the common law of negligent misrepresentation and
seeks monetary damages, costs, attorneys' fees and unspecified equitable or
injunctive relief. The complaint generally alleges that the defendants were
responsible for materially incorrect statements about Itron's business, markets,
and future prospects including allegedly misleading statements with respect to
the development and deployment of Itron's fixed network system. On September 3,
1997, Itron and Mr. Humphreys agreed to accept service of process of the
complaint. The Company has not filed an answer to the complaint as yet. However,
based on its preliminary review of the complaint, the Company believes it has
good defenses to the claims alleged, and the Company intends to vigorously
defend itself against this action.
There can be no assurance that the Company will prevail in the above
action or that, even if it does prevail, the costs incurred by the Company in
connection therewith will not have a material adverse effect on the Company's
business, financial condition and results of operations.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.
ITRON, INC.
By: /s/ David G. Remington
David G. Remington
Chief Financial Officer
(Authorized Officer and
Principal Financial Officer)
Dated: September 4, 1997