Attached files
| file | filename |
|---|---|
| EX-99.1 - NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF DERIVATIVE ACTIONS. - NOVATION COMPANIES, INC. | exhibit99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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
SECURITIES EXCHANGE ACT OF 1934
January 27, 2010
Date of Report (Date of earliest event reported)
Date of Report (Date of earliest event reported)
NOVASTAR FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
(Exact name of registrant as specified in its charter)
| Maryland | 001-13533 | 74-2830661 |
| (State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer |
| incorporation or organization) | Identification No.) |
| 2114 Central Street, Suite 600, Kansas City, MO 64108 |
| (Address of principal executive offices) (Zip Code) |
| (816) 237-7000 |
| (Registrant’s telephone number, including area code) |
| Not Applicable |
| (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):
o Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE REPORT
Item 8.01 Other Events.
On January 13, 2010, the
Circuit Court of Jackson County, Missouri, preliminarily approved the proposed
settlement (the “Settlement”), as set forth in a Stipulation of Settlement dated
as of November 24, 2009 (the “Stipulation”), of the consolidated shareholder
derivative litigation pending before the court styled O’Brien, Derivatively on behalf of NovaStar Financial, Inc. v. Scott F.
Hartman, et al., Case No.
0816-CV02978 (Consolidated with Case No. 0816-CV04731), and of the federal
shareholder derivative litigation styled Iaccarino v. Hartman, et al., Case No. 4:08-cv-469-ODS, pending in the
United States District Court for the Western District of Missouri (collectively,
the “Derivative Actions”). The Settlement affects persons who owned common stock
of NovaStar Financial, Inc. as of November 24, 2009 and who continue to hold
such stock as of the final settlement approval hearing (collectively, “Current
NovaStar Shareholders”).
A detailed Notice of
Pendency and Proposed Settlement of Derivative Actions, describing in greater
detail the Derivative Actions, the Settlement, and the rights of Current
NovaStar Shareholders with regard to the Settlement, is filed as Exhibit 99.1 to
this Current Report on Form 8-K and is incorporated herein by reference (the
“Notice”). The Notice is also available, along with the Stipulation, at the
Company’s website at http://www.novastarfinancial.com. Current NovaStar
Shareholders are urged to read the Notice and the Stipulation carefully and in
their entirety.
Item 9.01 Financial Statements and
Exhibits.
99.1 Notice of Pendency
and Proposed Settlement of Derivative Actions.
SIGNATURE
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 thereunto duly
authorized.
| NOVASTAR FINANCIAL, INC. | ||
| DATE: January 27, 2010 | /s/ Rodney E. Schwatken | |
| Rodney E. Schwatken | ||
| Chief Financial Officer | ||