SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
FORM 8-K
 CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 15, 2002
WATTS INDUSTRIES, INC.
 (Exact name of registrant as specified in charter)

           DELAWARE                   000-14787                04-2916536
(State or other jurisdiction   (Commission file number)      (IRS employer
      of incorporation)                                    identification no.)	

815 CHESTNUT STREET
NORTH ANDOVER, MASSACHUSETTS 01845
 (Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (978) 688-1811

ITEM 5 - OTHER EVENTS
On August 15, 2002, the Registrant issued a press release that announced the Securities and Exchange Commission had commenced a civil action against Mr. Timothy P. Horne, a Director of the Registrant, relating to trading he did in the shares of Central Sprinkler Corporation in May 1999. A copy of the press release is attached as an Exhibit to this report on Form 8-K and is incorporated herein by reference in its entirety.
ITEM 7 - FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
Exhibit 99.1 - Press release of Watts Industries, Inc. dated August 15, 2002.

SIGNATURES
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 thereunto duly authorized.

Date:  August 20, 2002             By:     /s/ Lester J. Taufen
                                          ------------------------------
                                          Lester J. Taufen
                                          General Counsel and Vice President
                                          of Legal Affairs	

EXHIBIT INDEX

Exhibit No.   Description
-----------   -----------

99.1          Press release of Watts Industries, Inc. dated August 15, 2002	

Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
 Contact: William C. McCartney Chief Financial Officer
Telephone: (978) 688-1811 Fax: (978) 688-2976
North Andover, MA . . . August 15, 2002, Watts Industries, Inc. (NYSE Symbol "WTS") today reported that Timothy P. Horne, a Director of Watts Industries, Inc., was advised by the Securities and Exchange Commission that in connection with an investigation concerning his personal independent trading in the shares of Central Sprinkler Corporation, the Securities and Exchange Commission has commenced a civil action relating to trading he did in the shares of Central Sprinkler Corporation in May 1999. Mr. Horne has advised the Board of Directors of the Company that he has cooperated with the Securities and Exchange Commission staff and that he has meritorious defenses to any such actions and intends to defend himself vigorously. The Board of Directors conducted a review of the matter, and confirmed that no assets of the Company were involved nor were its financial statements impacted. The action of Mr. Horne was done completely independently of the Company as a private investor.
Watts Industries, Inc. designs, manufactures and sells an extensive line of valves and other products to the water quality and water regulation and control markets.