PennyMac Financial Files 8-K on Feb 5, Confirms NYSE Listing

Ticker: PFSI · Form: 8-K · Filed: 2024-02-05T00:00:00.000Z

Sentiment: neutral

Topics: compliance, corporate-governance, administrative

TL;DR

**PFSI filed a routine 8-K, confirming its NYSE listing and compliance.**

AI Summary

PennyMac Financial Services, Inc. (PFSI) filed an 8-K on February 5, 2024, to report an 'Other Event' and 'Financial Statements and Exhibits.' This filing indicates that the company's Common Stock, with a $0.0001 par value, is registered on the New York Stock Exchange under the trading symbol PFSI. For investors, this filing primarily serves as a routine update, confirming the company's current registration details and compliance with SEC reporting requirements, which is important for maintaining transparency and market confidence.

Why It Matters

This filing is a standard compliance update, reassuring investors that PennyMac Financial Services, Inc. continues to meet its regulatory obligations and its stock remains actively traded on the NYSE.

Risk Assessment

Risk Level: low — This 8-K filing is a routine administrative update and does not contain any information that would significantly alter the company's risk profile.

Analyst Insight

A smart investor would recognize this as a routine administrative filing, not requiring immediate action, but confirming the company's ongoing compliance and market presence.

Key Numbers

Key Players & Entities

FAQ

What is the purpose of this 8-K filing by PennyMac Financial Services, Inc.?

This 8-K filing, dated February 5, 2024, is a 'Current Report' filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, reporting 'Other Events' and 'Financial Statements and Exhibits.' It primarily serves to update the public on routine corporate information and compliance.

What is the trading symbol and exchange for PennyMac Financial Services, Inc.'s common stock?

The Common Stock of PennyMac Financial Services, Inc. is registered under the trading symbol PFSI on the New York Stock Exchange, as stated in the filing.

What is the par value of PennyMac Financial Services, Inc.'s Common Stock?

The par value of PennyMac Financial Services, Inc.'s Common Stock is $0.0001, as indicated in the filing.

When was the earliest event reported in this 8-K filing?

The 'Date of Report (Date of earliest event reported)' for this 8-K filing is February 5, 2024.

What is the business address of PennyMac Financial Services, Inc.?

The business address of PennyMac Financial Services, Inc. is 3043 Townsgate Road, Westlake Village, California 91361, with a business phone number of (818) 224-7442.

Filing Stats: 890 words · 4 min read · ~3 pages · Grade level 12.4 · Accepted 2024-02-05 08:42:41

Key Financial Figures

Filing Documents

01 Other Events

Item 8.01 Other Events. As previously disclosed in the current and periodic reports of PennyMac Financial Services, Inc. (the "Company"), on November 5, 2019, Black Knight Servicing Technologies, LLC ("Black Knight"), now a wholly-owned subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE), filed a Complaint and Demand for Jury Trial in the Fourth Judicial Circuit Court in and for Duval County, Florida (the "Florida State Court"), captioned Black Knight Servicing Technologies , LLC v. PennyMac Loan Services, LLC ("PLS"), Case No. 2019-CA-007908, alleging breach of contract and misappropriation of MSP System trade secrets. On November 6, 2019, PLS filed unlawful monopolization claims against Black Knight pursuant to the Sherman Act and Clayton Act seeking injunctive relief. On March 30, 2020, the Florida State Court granted a motion to compel arbitration filed by the Company, after which all claims of the Company and Black Knight were consolidated into a binding arbitration. On November 28, 2023, the arbitrator issued an interim award (the "Interim Award") granting in part and denying in part Black Knight's breach of contract claim. The arbitrator's Interim Award also denied in full Black Knight's claim of trade secrets misappropriation. The Interim Award granted Black Knight monetary damages in the amount of $155,230,792, plus prejudgment interest and reasonable attorney fees, and it denied in full all of Black Knight's claims for injunctive and declaratory relief. On January 12, 2024, the arbitrator issued the final award (the "Final Award"), reducing Black Knight's monetary damages to $150,231,878, plus interest. As a result of the Final Award, the Company reported a pretax expense accrual of $158.4 million in its financial results for the fourth quarter of fiscal year 2023 on February 1, 2024. The Final Award also grants PLS' claim that Black Knight engaged in unlawful monopolization in violation of Section 2 of the Sherman Act and grants PLS' claim f

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Motion to Confirm the Arbitration Award 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. PENNYMAC FINANCIAL SERVICES, INC. Dated: February 5, 2024 /s/ Daniel S. Perotti Daniel S. Perotti Senior Managing Director and Chief Financial Officer

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