Item 8.01Other Events.
On
The lawsuit challenges certain historical compensation practices for the
defendant directors and the nature of the Company's disclosure of such practices
in past proxy statement filings. Additional information with respect to Solak v.
The individual defendants deny all of the wrongdoing alleged in the lawsuit.
Defendants are entering into the Settlement Agreement solely to eliminate the
uncertainty, distraction, disruption, burden, risk, and expense of further
litigation. Under the Settlement Agreement, all claims against all defendants
will be dismissed. In exchange, the Company has agreed to pay an award of
attorneys' fees and expenses to plaintiff's counsel of
On
The foregoing summary of the Settlement Agreement does not purport to be a complete description of such agreement and is subject to and qualified in its entirety by reference to the text of the Settlement Agreement, which can be found pursuant to the instructions set forth in the Notice attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 99.1 Notice of Pendency of Settlement of Action 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
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