PennyMac Financial Services Files 8-K

TL;DR

PMT filed an 8-K with financial exhibits, no major news.

AI Summary

PennyMac Financial Services, Inc. filed an 8-K on March 18, 2024, reporting on events that occurred on March 15, 2024. The filing primarily concerns financial statements and exhibits, with no specific material events detailed in the provided text.

Why It Matters

This filing indicates PennyMac Financial Services is providing updated financial information and exhibits to the SEC, which is standard for public companies.

Risk Assessment

Risk Level: low — The filing is a routine 8-K for financial statements and exhibits, not indicating any significant new risks or events.

Key Players & Entities

• PennyMac Financial Services, Inc. (company) — Registrant
• 3043 Townsgate Road (location) — Principal executive offices address
• Westlake Village, California (location) — Principal executive offices city and state
• 91361 (location) — Principal executive offices zip code
• 001-38727 (other) — SEC File Number
• 83-1098934 (other) — IRS Employer Identification No.

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value PFSI New York Stock Exchang
• $155,230,792 — night monetary damages in the amount of $155,230,792, plus prejudgment interest and reasonab
• $150,231,878 — cing Black Knight's monetary damages to $150,231,878, plus interest. As a result of the Fina
• $158.4 million — ny reported a pretax expense accrual of $158.4 million in its financial results for the fourth

Filing Documents

• tm249065d1_8k.htm (8-K) — 29KB
• 0001104659-24-035235.txt ( ) — 198KB
• pfsi-20240315.xsd (EX-101.SCH) — 3KB
• pfsi-20240315_lab.xml (EX-101.LAB) — 33KB
• pfsi-20240315_pre.xml (EX-101.PRE) — 22KB
• tm249065d1_8k_htm.xml (XML) — 3KB

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 attorneys' fees, and it denied in full all of Black Knight's claims for injunctive and declaratory relief. The Interim Award also granted PLS' claim that Black Knight violated federal antitrust laws, specifically unlawful monopolization in violation of Section 2 of the Sherman Act, and granted PLS' claim for injunctive relief under the Sherman Act and Clayton Act, as well as its reasonable attorneys' fees and costs. The parties subsequently agreed not to seek attorneys' fees or costs on any claims. As a result of the Interim Award, PLS' loan servicing technology, known as Servicing Systems Environ

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 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: March 18, 2024 /s/ Daniel S. Perotti Daniel S. Perotti Senior Managing Director and Chief Financial Officer