FTI Consulting, Inc. Announces $100.0 Million Stock Repurchase Program
June 02 2016 - 4:30PM
FTI Consulting, Inc. (NYSE:FCN), the global business advisory firm
dedicated to helping organizations protect and enhance their
enterprise value, today announced that on June 2, 2016, FTI
Consulting’s Board of Directors authorized a stock repurchase
program under which the Company may repurchase up to $100.0 million
of its outstanding common stock.
Under the program, FTI Consulting may repurchase shares in
open-market purchases in accordance with all applicable securities
laws and regulations, including Rule 10b-18 of the Securities
Exchange Act of 1934, as amended. The specific timing and amount of
repurchases will be determined by FTI Consulting's management, in
its discretion, and will vary based on market conditions,
securities law limitations and other factors. No time limit was
established for the completion of the program, and the program may
be suspended, discontinued or replaced by the Board at any time
without prior notice. The repurchases may be funded using available
cash on hand or a combination of cash and available borrowings
under the Company’s senior secured revolving bank credit
facility.
About FTI ConsultingFTI Consulting, Inc. is a
global business advisory firm dedicated to helping organizations
protect and enhance enterprise value in an increasingly complex
legal, regulatory and economic environment. With more than 4,600
employees located in 28 countries, FTI Consulting professionals
work closely with clients to anticipate, illuminate and overcome
complex business challenges in areas such as investigations,
litigation, mergers and acquisitions, regulatory issues, reputation
management, strategic communications and restructuring. The Company
generated $1.78 billion in revenues during fiscal year 2015. More
information can be found at www.fticonsulting.com.
Safe Harbor StatementThis press release
includes "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, which involve
uncertainties and risks. Forward-looking statements include
statements, without limitation, regarding plans for share
repurchases. When used in this press release, words such as
"estimates," "expects," "anticipates," "projects," "plans,"
"intends," "believes," "forecasts," "may" and variations of such
words or similar expressions are intended to identify
forward-looking statements. All forward-looking statements are
based upon our expectations at the time we make them and various
assumptions. Our expectations, beliefs and projections are
expressed in good faith, and we believe there is a reasonable basis
for them. However, there can be no assurance that management's
plans will be achieved. Factors that could cause changes to our
plans include risks described under the heading "Item 1A Risk
Factors" in the Company's most recent Form 10-K and in the
Company's other filings with the Securities and Exchange
Commission. We are under no duty to update any of the
forward-looking statements to conform such statements to actual
results or events and do not intend to do so.
FTI Consulting, Inc.
1101 K Street NW
Washington, DC 20005
+1.202.312.9100
Investor & Media Contact:
Mollie Hawkes
+1.617.747.1727
mollie.hawkes@fticonsulting.com
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