UNITED STATES

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):          July 28, 2020      

_______________________________

Network-1 Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

_______________________________

 

Delaware 001-15288 11-3027591
(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)

(212) 829-5770 

 

(Registrant’s telephone number, including area code)

N/A

 

(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

NTIP

 NYSE American

  

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 8.01Other Events

On July 29, 2020, Network-1 Technologies, Inc. (“Network 1”) announced that it has agreed to settle its litigation against Dell, Inc. (“Dell”) pending in the District Court, 241st Judicial District Smith County, Texas. The litigation relates to a dispute regarding a Settlement and License Agreement, dated August 15, 2016, with respect to royalty payments relating to licensing Network-1’s Remote Power Patent.  Under the terms of the settlement, Dell will pay $4,150,000 to Network-1 in full settlement of the litigation. A copy of the Press Release is attached as Exhibit 99.1.

 

 

 

Item 9.01Financial Statements and Exhibits

(d)       Exhibits

Exhibit No. Description  
     
99.1 Press Release dated July 29, 2020  
     
     

 

 

 

 

 

 

 

 

 

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SIGNATURE

 

 

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.
     
     
Dated  July 30, 2020 By: /s/ Corey M. Horowitz
 

Name:

Title:

Corey M. Horowitz

Chairman & Chief Executive Officer

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

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