Pitney Bowes 2008 Annual Report Download - page 26

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ITEM 1B. – UNRESOLVED STAFF COMMENTS
None.
ITEM 2. – PROPERTIES
Our world headquarters and certain other facilities are located in Stamford, Connecticut. We have over 500 facilities that are either
leased or owned throughout the U.S. and other countries. Our Mailstream Solutions and Mailstream Services businesses utilize these
facilities jointly and separately. We continue to have limited manufacturing and assembly of products in our Danbury, Connecticut
and Harlow, United Kingdom locations. We also have two principal research and development facilities in our Shelton, Connecticut
and Noida, India locations. We believe that our manufacturing, administrative and sales office properties are adequate for the needs of
all of our operations.
ITEM 3. – LEGAL PROCEEDINGS
In the ordinary course of business, we are routinely defendants in or party to a number of pending and threatened legal actions. These
may involve litigation by or against us relating to, among other things:
• contractual rights under vendor, insurance or other contracts
• intellectual property or patent rights
• equipment, service, payment, contractual or other disputes with customers
• disputes with employees
These litigations are on occasion brought on behalf of purported classes of customers, employees or others.
Our wholly-owned subsidiary, Imagitas, Inc., is a defendant in ten purported class actions filed in six different states. These lawsuits
have been coordinated in the United States District Court for the Middle District of Florida, In re: Imagitas, Driver’s Privacy
Protection Act Litigation (Coordinated, May 28, 2007). Each of these lawsuits alleges that the Imagitas DriverSource program
violates the federal Drivers Privacy Protection Act (DPPA). Under the DriverSource program, Imagitas enters into contracts with
state governments to mail out automobile registration renewal materials along with third party advertisements, without revealing the
personal information of any state resident to any advertiser. The DriverSource program assists the state in performing its
governmental function of delivering these mailings and funding the costs of them. The plaintiffs in these actions are seeking both
statutory damages under the DPPA and an injunction against the continuation of the program. On April 9, 2008, the District Court
granted Imagitas’ motion for summary judgment in one of the coordinated cases, Rine, et al. v. Imagitas, Inc. (United States District
Court, Middle District of Florida, filed August 1, 2006). On July 30, 2008, the District Court issued a final judgment in the Rine
lawsuit and stayed all of the other cases filed against Imagitas pending an appellate decision in Rine. On August 27, 2008, the Rine
plaintiffs filed an appeal of the District Court’s decision in the United States Court of Appeals, Eleventh Judicial Circuit. The
appellate process in this case is proceeding.
We expect to prevail in the lawsuits against Imagitas; however, as litigation is inherently unpredictable, there can be no assurance in
this regard. If the plaintiffs do prevail, the results may have a material effect on our financial position, future results of operations or
cash flows, including, for example, our ability to offer certain types of goods or services in the future.
ITEM 4. – SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
We did not submit any matters to a vote of our stockholders during the three months ended December 31, 2008.
PART II
ITEM 5. – MARKET FOR THE COMPANY’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS
AND ISSUER PURCHASES OF EQUITY SECURITIES
Pitney Bowes common stock is traded under the symbol “PBI”. The principal market is the New York Stock Exchange (NYSE). Our
stock is also traded on the Boston, Chicago, Philadelphia, Pacific and Cincinnati stock exchanges. At January 31, 2009, we had
23,337 common stockholders of record.