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 21, 2007
POINT BLANK SOLUTIONS, INC.
______________________________________________________
(Exact name of registrant as specified in its charter)
DELAWARE 001-13112 11-3129361
________________________________________________________________________________
(State of Incorporation) (Commission File Number) (IRS Employer Identification
Number)
2102 SW 2ND STREET, POMPANO BEACH, FLORIDA 33069
__________________________________________ __________
(Address of principal executive office) (Zip Code)
(954) 630-0900
____________________________________________________
(Registrant's telephone number, including area code)
NOT APPLICABLE
______________________________________________
(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:
[ ] 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))
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ITEM 7.01. REGULATION FD DISCLOSURE
As previously disclosed, the Company in 2006 entered into a proposed settlement
of certain class and derivative actions brought against the Company. A
Stipulation of Settlement reflecting the terms of that settlement has been
pending before a U.S. District Judge for the Eastern District of New York. On
October 5, 2007, the court held a hearing to consider and determine whether to
grant final approval of the settlement. The Court took no action at the hearing,
and indicated that it would issue a decision no sooner than 45 days after the
hearing (or November 19, 2007) in order to allow the Commercial Litigation
Division of the U.S. Justice Department, which had been notified of the
settlement pursuant to the Class Action Fairness Act, to determine if it wished
to make an objection to the settlement.
On November 19, 2007, the Commercial Litigation Division informed the court that
it would like to submit an objection to the settlement, and requested leave to
file a brief in opposition. The Commercial Litigation Division is objecting to a
provision in the stipulation providing that the Company release its former
Chairman and Chief Executive Officer David H. Brooks and former Chief Financial
Officer Dawn M. Schlegel from any liability pursuant to Section 304 of the
Sarbanes-Oxley Act of 2002, and indemnify them in the event they are required to
make a payment to the Company in any action brought by the Securities and
Exchange Commission. The government also objects to the lack of a statement in
the stipulation stating that nothing in the settlement is intended to limit the
ability of the United States to pursue remedies in any civil, criminal or
administrative proceeding. The Company continues to believe that the Settlement
is in the best interests of all shareholders, employees, and importantly, its
military and law enforcement customers, to settle these actions and have them
concluded. It intends to file a response consistent with that position. There
can be no assurance that the court will grant final approval of the settlement.
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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.
POINT BLANK SOLUTIONS, INC.
By: /s/ JOHN SIEMER
_____________________________________________________
Name: John Siemer
Title: Chief Operating Officer and Chief of Staff
Dated: November 21, 2007
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