SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 25, 2020
Network-1 Technologies, Inc.
(Exact name of registrant as specified in its charter)
|(State or Other Jurisdiction||(Commission||(I.R.S. Employer|
|of Incorporation)||File Number)||Identification No.)|
445 Park Avenue, Suite 912, New York, New York 10022
(Address of Principal Executive Offices) (Zip Code)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
Common Stock, par value $0.01 per share
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 8.01||Other Events.|
On March 25, 2020, with respect to Network-1 Technologies Inc.’s litigation against Dell, Inc., the District Court, 241st Judicial District Court in Smith County, Texas issued a decision granting summary judgment in favor of Network-1 and against Dell, Inc.
On November 13, 2018, Network-1 filed the lawsuit against Dell for breach of a settlement and license agreement as a result of Dell’s failure to make royalty payments, and provide corresponding royalty reports, based on sales of Dell’s Power over Ethernet products for the period that accrued (and were not paid) prior to and following the Hewlett Packard jury verdict in November 2017 through March 7, 2020 (the expiration of Network-1’s Remote Power Patent). As a result of the summary judgment decision in favor of Network-1, it is the Network-1’s position that Dell is now obligated to pay Network-1 all prior unpaid royalties that accrued prior to and after the date of the Hewlett Packard jury verdict through March 7, 2020.
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 hereunto duly authorized.
|NETWORK-1 TECHNOLOGIES, INC.|
|Date: March 26, 2020||By:||/s/ Corey M. Horowitz|
Name: Corey M. Horowitz
Title: Chairman & Chief Executive Officer