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KOSS > SEC Filings for KOSS > Form 8-K on 5-Jul-2013All Recent SEC Filings

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Form 8-K for KOSS CORP


5-Jul-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Entry into a Material Definitive Agreement.

On July 3, 2013, Koss Corporation ("Koss") issued a press release announcing that Koss settled the claims between Koss and its former auditor, Grant Thornton, LLP, in the lawsuit pending in the Circuit Court of Cook County, Illinois, County Department, Law Division, bearing Case No. 2013 L 4011 (previously bearing Case No. 10 L 7342). The Settlement Agreement was effective as of June 17, 2013.

As part of the settlement, the parties provided mutual releases that resolved all claims involved in the litigation between Koss and its Directors against Grant Thornton, LLP. Pursuant to the settlement, Koss received gross proceeds of $8.5 million from Grant Thornton, LLP on July 3, 2013.

A copy of the press release is being furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Number                              Description

Exhibit 99.1   Press Release of Koss Corporation dated July 3, 2013.


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