8-K 1 d8k.htm FORM 8-K Form 8-K

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)

July 24, 2006

 

Tripath Technology Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware   000-31081   77-0407364

(State or other jurisdiction

of incorporation)

   (Commission File Number)  

(IRS Employer

Identification No.)

2560 Orchard Parkway

San Jose, California 95131

(Address of principal executive offices, including zip code)

(408) 750-3000

(Registrant’s telephone number, including area code)

 

(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):

 

¨ 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))

 

Item 1.01. Entry into a Material Definitive Agreement

On July 24, 2006, Tripath Technology Inc. (the “Company”) entered into a Stipulation of Settlement of Derivative Claims (the “Stipulation”) to settle the derivative shareholder litigation entitled Lyon v. Tripathi et. al. pending against the Company and certain of its current and former officers and/or directors (the “Derivative Action”).

Under the terms of the Stipulation, the parties agreed that the Derivative Action will be dismissed in exchange for the implementation of certain corporate governance changes and payment by the Company of plaintiff’s attorney’s expenses in an amount not to exceed $6,000.

The Stipulation remains subject to the satisfaction of various conditions, including without limitation, final approval by the court.

On July 24, 2006, the Company issued a press release announcing the Stipulation. A copy of such press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits

 

Exhibit No.  

Description

99.1   Press Release, dated July 24, 2006, entitled “Tripath Agrees to Settle Derivative Shareholder Litigation”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Tripath Technology Inc.
By:  

/s/ Jeffrey L. Garon

  Jeffrey L. Garon
  Vice President, Finance and Chief Financial Officer

Date: July 24, 2006

Exhibit Index

 

Exhibit No.  

Description

99.1   Press Release, dated July 24, 2006, entitled “Tripath Agrees to Settle Derivative Shareholder Litigation”