Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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) September 29,
2009
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation)
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001-14015
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77-0262908
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(Commission
File Number)
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(IRS
Employer Identification No.)
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3590
East Columbia Street, Tucson, Arizona
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85714
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(Registrant’s
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
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 (see General Instruction A.2.
below):
¨ 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))
On
September 29, 2009, Applied Energetics, Inc. (the “Registrant”) issued a press
release announcing that the United States District Court for the District of
Arizona granted final approval of the settlement of the consolidated class
action lawsuit originally filed in July 2006 against the Registrant and its
founders.
As
previously announced, under the terms of the settlement of the class action
lawsuits, those lawsuits were dismissed with prejudice, and the Registrant and
all other defendants received a full and complete release of all claims asserted
against them in the litigation, in exchange for the payment of an aggregate of
$5.3 million in cash and the issuance of previously unissued shares of common
stock by the Registrant valued at $1.2 million. Based on the formula
set forth in the settlement agreement, the Registrant will issue 2,283,887
shares of its common stock. There was no admission of liability by
any of the defendants.
Insurance
proceeds of $6.2 million, less amounts previously reimbursed to the Registrant
to pay expenses of the stockholder litigations (approximately $700,000 to date),
were used to fund the settlement payments and related costs. The
remaining cash payments and the stock issuance are being made by the
Registrant.
As stated
in the settlement documents, the Registrant denies any liability in connection
with the litigation and denies the claims asserted by the plaintiffs in the
complaints. However, the Registrant believes this settlement is in
the best interest of the Registrant and its stockholders, as it eliminates the
uncertainties, distractions, burden and further expense associated with the
litigations
Item
9.01. Financial Statements and Exhibits
(d) 99.1 Press
Release dated September 29, 2009.
SIGNATURES
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 thereunto duly
authorized.
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APPLIED
ENERGETICS, INC.
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(Registrant)
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By:
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/s/ Joseph C. Hayden
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Joseph
C. Hayden
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Chief
Operating Officer
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Date: September 29,
2009