June 27, 2017 1:19 PM ET

Commercial Services and Supplies

Company Overview of ABM Security Services, Inc.

Company Overview

ABM Security Services, Inc. provides security services in the United States. The company provides custom, residential, and commercial security services such as uniformed, unarmed and plainclothes security; background checks and investigation services; concierge and receptionist services; patrol and alarm response; security consulting, system design, security surveys; security trained support personnel; special events coverage and crowd control services; ushers and ticket takers services; workplace violence solutions; and access control services. It conducts an analysis of the clients’ security needs and provides solutions. The company offers its solutions for commercial, industrial, and res...

7324 Southwest Freeway

Suite 1400

Houston, TX 77074

United States

Phone:

713-926-5611

Fax:

713-926-2435

Key Executives for ABM Security Services, Inc.

Compensation as of Fiscal Year 2016.

ABM Security Services, Inc. Key Developments

ABM Security Services, Inc. Enters into Class Action Settlement and Release Agreement

On February 6, 2017, ABM Security Services, Inc., a wholly-owned subsidiary of ABM Industries Incorporated entered into a Class Action Settlement and Release Agreement with Plaintiffs Jennifer Augustus, Emanuel Davis, Delores Hall, Carlton Anthony Waite, and Carlos Villacres, on behalf of themselves and the settlement class members, to settle Augustus et. al. v. ABM Security Services, Inc. (Los Angeles County Superior Court, Case Nos. BC336416, BC345918 & CG544421) (the 'Augustus Settlement Agreement') on a classwide basis for $110 million. The Augustus Settlement Agreement is contingent upon the approval of the Superior Court of California, Los Angeles County (the 'Superior Court'). The previously reported Augustus case is a certified class action involving alleged violations of certain California state laws relating to rest breaks. The case centers on whether requiring security guards to remain on call during rest breaks violated Section 226.7 of the California Labor Code. On July 31, 2012, the Superior Court entered judgment in favor of plaintiffs in the amount of approximately $89.7 million. Subsequently, the Superior Court also awarded plaintiffs' attorneys' fees of approximately $4.5 million in addition to approximately 30% of the common fund. Under California law, post-judgment interest on the judgment accrues at a rate of 10% simple interest per year from the date the judgment was entered until it is satisfied. ABM appealed the Superior Court's rulings to the Court of Appeals of the State of California, Second Appellate District. On December 31, 2014, the Appeals Court issued its opinion, reversing the judgment in favor of the plaintiffs and vacating the award of $89.7 million in damages and the attorneys' fees award. On December 22, 2016, the California Supreme Court reversed the judgment of the Appeals Court and held in favor of the plaintiffs. The amount of post-judgment interest on December 22, 2016, was approximately $41.2 million. ABM has also entered into a Settlement Term Sheet with plaintiff in connection with Karapetyan v. ABM Industries Incorporated and ABM Security Services, Inc. (Central District of California Case No. CV-15-08313) to settle the case on a classwide basis for $5 million. The Karapetyan case is a putative class action in which the plaintiff seeks to represent a class of security guards. The putative class primarily consists of guards who worked during time periods subsequent to the Augustus class period. Plaintiff alleges that ABM violated certain California state laws relating to meal and rest breaks and other wage and hour claims. The Karapetyan settlement is contingent upon the finalization of a long-form settlement agreement with respect to the Karapetyan case and will be further contingent on the final approval by the United States District Court for the Central District of California, as well as final approval by the Superior Court of the Augustus Settlement Agreement.

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