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Stock Market & Financial Investment News

News Breaks
July 11, 2014
16:07 EDTZEPZep Inc. agrees to $905K penalty to resolve EPA claims
Zep Inc. disclosed in a regulatory filing that the company was served with a final, executed copy of a consent order between the company and the U.S. Environmental Protection Agency. Pursuant to the order, the company agreed to pay, on or before August 7, a civil penalty in the amount of $905K to resolve the EPAís allegations that the companyís subsidiary sold an unregistered pesticide, sold a misbranded pesticide, and submitted false compliance certification statements to the EPA. "The company neither admits nor denies the EPAís factual allegations and legal conclusions as set forth in the Consent Order. It agreed to the Consent Order to avoid the expense of litigation," Zep stated. The company recorded a charge against its earnings in 4Q13 in the amount of $250K with respect to this matter. The remaining $655K was recorded as a charge against its earnings in 3Q14.
News For ZEP From The Last 14 Days
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June 25, 2015
12:31 EDTZEPZep Inc. shareholders approve merger with New Mountain Capital
Zep Inc. announced that its stockholders approved the previously announced merger with an affiliate of New Mountain Capital, L.L.C. at its special meeting of stockholders. Based on the tabulation of the stockholder vote, approximately 99.30% of the total votes cast, which represents approximately 80.66% of the total shares outstanding as of the May 22 record date for the special meeting, were voted in favor of the merger. Under the terms of the Merger Agreement, Zepís stockholders will receive $20.05 in cash per share at the closing of the transaction. The transaction remains subject to customary closing conditions and is expected to close on June 26.
June 24, 2015
11:37 EDTZEPZep Inc. to host special shareholder meeting
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