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
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Date of Report (Date of Earliest Event Reported): March 8, 2011
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Point.360
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(Exact name of registrant as specified in its charter)
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California
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0-21917
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01-0893376
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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2777 North Ontario Street
Burbank, California
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91504
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code:
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(818) 565-1400
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N/A
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(Former name or former address, if changed since last report)
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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:
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[_]
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[_]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[_]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[_]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On March 8, 2011, Point.360 (the “Company”) and HCVT, the Company’s tax advisors, entered into a Release and Settlement Agreement (the “Agreement”). The Agreement provides that HCVT will pay the Company $1 million within 30 days of the date of the Agreement for the Company’s complete release of any claim against HCVT concerning HCTV’s representation relating to a litigation matter. A partner in HCVT is a director of the Company.
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 hereunto duly authorized.
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Point.360
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March 14, 2011
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By:
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/s/ Alan R. Steel
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Name: Alan R. Steel
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Title: Executive Vice President
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Finance and Administration
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Chief Financial Officer
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