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: September 8, 2010
(Date
of earliest event reported)
UNIVERSAL
CORPORATION
(Exact
Name of Registrant as Specified in its Charter)
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Virginia
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001-00652
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54-0414210
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(State
or Other Jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
Incorporation)
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Identification
No.)
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9201
Forest Hill Avenue
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23235
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Richmond,
Virginia
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(Zip
Code)
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(Address
of Principal Executive Offices)
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Registrant's
telephone number, including area code:
(804)
359-9311
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.
In
October 2004, the European Commission (the “Commission”) imposed fines on “five
companies active in the raw Spanish tobacco processing market” totaling €20
million for “colluding on the prices paid to, and the quantities bought from,
the tobacco growers in Spain.” Two of the Registrant’s subsidiaries,
Tabacos Espanoles S.A. (“TAES”), a purchaser and processor of raw tobacco in
Spain, and Deltafina, S.p.A. (“Deltafina”), an Italian subsidiary, were among
the five companies assessed fines. In its decision, the Commission
imposed a fine of €108,000 on TAES and a fine of €11.88 million on
Deltafina. The Registrant recorded a charge of about €12 million
(approximately $14.9 million at the September 2004 exchange rate) in the second
quarter of fiscal year 2005 to accrue the full amount of the fines assessed
against the Registrant’s subsidiaries. In January 2005, Deltafina
deposited the amount of the fine in escrow and filed an appeal in the General
Court of the European Union.
On
September 8, 2010, the General Court issued its decision, in which it reduced
the amount of the Deltafina fine to €6.12. The General Court held in
part that the Commission erred in finding Deltafina acted as the leader of the
Spanish cartel, and that the Commission’s corresponding increase of the
underlying fine by 50% was not justified. If either Deltafina or the
Commission chooses to appeal the decision of the General Court, such appeal must
be filed within two months and 10 days from the date of the notification of the
decision.
SIGNATURES
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.
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UNIVERSAL
CORPORATION
(Registrant)
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Date:
September 10, 2010
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By:
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/s/
Preston D. Wigner |
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Preston
D. Wigner
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Vice
President, General Counsel, Secretary, and Chief Compliance
Officer
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