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BVX > SEC Filings for BVX > Form 8-K on 2-Jul-2014All Recent SEC Filings

Show all filings for BOVIE MEDICAL CORP

Form 8-K for BOVIE MEDICAL CORP


2-Jul-2014

Other Events


Item 8.01 Other Events

On June 26, 2014, Bovie Medical Corporation (the "Company") entered into a Stipulation and Agreement of Settlement ("Stipulation of Settlement") setting forth the terms of the settlement of the claims asserted against the Company and the individual defendants in the previously disclosed stockholder derivative action entitled Arbit, et al v. Makrides, et al pending in the United States District Court for the Middle District of Florida, Tampa Division (the "Stockholder Derivative Action"). The Settlement Agreement remains subject to court approval, and requires the Company to make and/or codify certain corporate governance changes as more specifically described therein. In addition, counsel for the plaintiffs will be entitled to request that the court award of attorney's fees and expenses of up to $850,000, subject to court approval, which amount would be fully funded by insurance proceeds.

A copy of the Stipulation of Settlement and exhibits thereto are to be filed with this Report on Form 8-K as Exhibit 99.1.

The Company is pursuing final court approval of the Stipulation of Settlement.

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