Move 8-K 2009
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 8, 2009
(Exact name of registrant as specified in its charter)
910 East Hamilton Avenue
Campbell, California 95008
(Address of principal executive offices)
Registrants telephone number, including area code: (408) 558-3700
(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):
On December 8, 2009, Move, Inc. (the Company) received an unfavorable ruling in the FINRA arbitration proceedings the Company brought against Citigroup Global Markets, Inc. (CGMI) in connection with the Companys investment in auction rate securities (ARS). The arbitration panel denied the Companys request that the purchase be rescinded, as well as the other claims brought by the Company against CGMI. As stated in our Form 10-Q for the quarter ended September 30, 2009, filed on November 9, 2009, we hold the ARS investments as long term investments, do not have a need to access these funds for operational purposes for the foreseeable future, and currently have the ability and the intent to hold these ARS investments until their fair value recovers, until they reach maturity, or until they can be sold in a market that facilitates orderly transactions.
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.