Circle Entertainment, Inc. 8-K 2013
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Circle Entertainment Inc.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously reported, under the terms of the Stipulation and Settlement Agreement (the "Settlement Agreement") to settle the stockholder derivative lawsuit filed on April 28, 2010 by The Huff Alternative Fund, L.P. and The Huff Alternative Parallel Fund, L.P. (collectively, "Huff") on behalf of Circle Entertainment Inc. (the "Company") against certain of the Company’s officers, directors and stockholders in the New York Supreme Court in Manhattan, New York (Index No. 650338-10), the Company agreed to, among other matters, elect to its Board of Directors (the "Board") an additional member who is "independent" (as defined in the Settlement Agreement and also as defined in the Company’s Charters for the Board’s Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, and by applicable rules of The NASDAQ Global Market and the Securities and Exchange Commission relating thereto) and have such additional independent member appointed by the Board to serve on the Board’s Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, within sixty days of January 16, 2013, the effective date of the Settlement Agreement.
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.