Batesville Settles Litigation With Matthews International for $18.75 Million

November 17, 2014
4 Comments
Advertisement

The $18.75 million payout will cost Batesville approximately $31 per casket sold.

MATTHEWS INTERNATIONAL CORPORATION ANNOUNCES FAVORABLE SETTLEMENT IN HARRY PONTONE, SCOTT PONTONE AND BATESVILLE CASKET COMPANY LITIGATION 

PITTSBURGH, PA, November 17, 2014 — Matthews International Corporation (NASDAQ GSM: MATW) (“Matthews or the “Company”) today announced it will receive a settlement award valued at $18.75 million resulting from litigation initiated against Harry Pontone, Scott Pontone, Pontone Casket Company and Batesville Casket Company (“Batesville”) in the United States District Court for the Western District of Pennsylvania.

Under the terms of the settlement, Batesville will pay Matthews $17 million in one lump sum payment and will also pay an additional $1.75 million for attorney fees of Harry and Scott Pontone, for a total settlement value of $18.75 million. The settlement successfully concludes litigation arising out of allegations that the defendants unlawfully poached customers of Matthews’ subsidiaries, The York Group, Inc. (“York”) and Milso Industries Corporation (“Milso”), that Harry and Scott Pontone breached their employment covenants, and that Batesville improperly interfered with business relations of Matthews, York and Milso. All of the settlement proceeds shall be paid by Batesville on behalf of the multiple co-defendants.

Advertisement

The Funeral Home Products Division of Matthews continues to be led by Thomas Pontone as President, Andrew Pontone as Vice President and General Manager of the Northeast Region, Steven Pontone, as Vice President of Strategic Accounts, and Michael Pontone as President of the Matthews Children’s Foundation. They are further supported in leadership roles in the Greater Metropolitan New York region by longstanding Matthews/Milso employees including Louis Pontone, Andrew Pontone Sr., Thomas (Junior) Pontone, Donna Pontone, Joe Bruno, Peter Ferris, and other key members of the Company’s experienced sales team.

Thomas Pontone, President of Matthews Funeral Home Products Division, commented “Following the actions involved in this case, I am pleased the defendants have agreed to settle the case for a significant amount. On behalf of myself, Matthews, and all the Pontone family members engaged with Matthews, I would like to thank our customers for their continued loyalty and our longstanding employees for the tremendous contributions they make every day delivering outstanding service to our customers.”

Matthews International Corporation, headquartered in Pittsburgh, Pennsylvania, is a designer, manufacturer and marketer principally of memorialization products and brand solutions. Memorialization products consist primarily of bronze and granite memorials and other memorialization products, caskets and cremation equipment for the cemetery and funeral home industries. Brand solutions include artwork and pre-media services, graphics imaging products and services, merchandising solutions, and marking automation and fulfillment solutions. The Company’s products and services include cast bronze and granite memorials and other memorialization products; caskets; cast and etched architectural products; cremation equipment and cremation-

related products; mausoleums; brand management; printing plates and cylinders, pre-press services and imaging services for the primary packaging and corrugated industries; marking and coding equipment and consumables, industrial automation products and order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products; and merchandising display systems and marketing and design services.

Source: Matthews International

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

FTC Releases Results of Undercover Funeral Rule Investigation… 4 Regions Bombed
Funeral Industry News
1050 views
Funeral Industry News
1050 views

FTC Releases Results of Undercover Funeral Rule Investigation… 4 Regions Bombed

Justin Crowe - June 18, 2018

The FTC has released its report detailing the results of its undercover Funeral Rule investigation for 2017. Last year, the…

RELEASE THE FN CRAKN! | FUNERAL nation 114
Funeral Industry News
283 views
Funeral Industry News
283 views

RELEASE THE FN CRAKN! | FUNERAL nation 114

CDFuneralNews - June 18, 2018

It's a barn burner... The Commander is moving his Command Post!!! Besides the Commander on the move, the boys speak…

FrontRunner Professional Announces Expansion of Development Team
Frontrunner Professional
3 views
Frontrunner Professional
3 views

FrontRunner Professional Announces Expansion of Development Team

CDFuneralNews - June 18, 2018

Today FrontRunner Professional announced a significant expansion to their programming and development team with the addition of Greg Daye and…

Comments