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)November 21, 2005
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|
DEL GLOBAL TECHNOLOGIES CORP. |
(Exact name of registrant as specified in charter) |
| | |
New York | 0-3319 | 13-1784308 |
(State or other jurisdiction
of incorporation) | (Commission
File Number) | (IRS Employer
Identification No.) |
| | |
One Commerce Park, Valhalla, NY | 10595 |
(Address of Principal Executive Offices) | (Zip Code) |
| | |
Registrant’s telephone number, including area code (914) 686-3650 |
|
(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 (seeGeneral Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. | Entry Into A Material Definitive Agreement |
On November 21, 2005, the registrant settled the previously disclosed litigation filed in the United States District Court, Southern District of New York, by Palladio Corporate Finance, S.p.A. and Palladio Finanziaria S.p.A. (collectively, “Palladio”), the party with whom it had signed a non-binding letter of intent for the sale of its Medical Systems Group. The settlement provides for payments by the registrant in the total amount of $500,000, according to the following payment schedule:
December 15, 2005: | $100,000 |
January 17, 2006: | $50,000 |
April 17, 2006: | $50,000 |
July 17, 2006: | $100,000 |
October 16, 2006 | $50,000 |
January 15, 2007 | $50,000 |
April 16, 2007: | $100,000 |
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 hereunto duly authorized.
DEL GLOBAL TECHNOLOGIES CORP.
(Registrant)
Date: | November 23, 2005 | |
| By: | /s/ Mark A. Koch |
| Mark A. Koch | |
| Principal Accounting Officer and | |
| Treasurer | |
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