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): November 30, 2007
Action Products International, Inc.
(Exact name of registrant as specified in its charter)
| | | | |
| Florida | | 001-13118 | | 59-2095427 |
| (State of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
1101 N. Keller Road, Suite E
Orlando, Florida 32810
(Address of principal executive office, including zip code)
(407) 481-8007
(Telephone number, including area code)
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)) |
In November 2006, a final judgment, in the amount of $5.1 million, bearing interest at 9% annually, was entered in favor of Action Products International, Inc. in the Circuit Court for Alachua County, Florida, in a civil lawsuit against defendants Kid Galaxy, Inc. and its parent company Lung Cheong International Holdings Ltd., and Timothy L. Young. The Court has received $6.1 million in escrow from defendants. The defendants appealed the Court’s ruling.
On November 30, 2007, the First District State Court of Appeal filed its opinion affirming the judgment. A copy of the opinion is annexed as Exhibit 99.1 to this Form 8-K.
| Item 9.01 | Financial Statements and Exhibits. |
| (a) | Financial Statements of Business Acquired: None |
| (b) | Pro Forma Financial Information: None |
| | |
Exhibit No. | | Description |
99.1 | | Per Curiam Opinion of District Court of Appeal, First District, State of Florida dated November 30, 2007. |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| | |
| ACTION PRODUCTS INTERNATIONAL, INC. |
| |
| By: | | /s/ RONALD S. KAPLAN |
| | Ronald S. Kaplan |
| | Chief Executive Officer |
| | Date: December 28, 2007 |
3
