cool_8k.htm

 

 

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): May 18, 2016

 

Cool Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada

000-53443

75-3076597

(State or other jurisdiction
of incorporation or organization)

(Commission
File Number)

(I.R.S. Employer
Identification Number)

 

8875 Hidden River Parkway

Tampa, Florida

33637

(Address of principal executive offices)

(Zip Code)

 
Registrant's telephone number, including area code: (813) 975-7467
 

N/A
(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:

 

¨

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))

 

 

 

Section 8 - Other Events

 

Item 8.01 Other Events.

 

On May 18, 2016, the United States District Court, District of Nevada preliminarily approved the Settlement Agreement reached between the parties in Peak Finance, LLC v. Timothy J. Hassett et. al., Case No. 2:15-cv-01590-GMN-CWH. This approval is subject to receipt and consideration of any objections filed by non-party shareholders. The Court has established a deadline of July 29, 2016 for shareholders to file objections to the Settlement Agreement as more fully set forth in the Notice of Proposed Settlement of Derivative Claims attached hereto as Exhibit 10.54.

 

Assuming the Court gives its final approval to the settlement, an Independent Directors Committee consisting of directors Christopher McKee, Richard J. "Dick" Schul and Donald Bowman will review the allegations made by Peak Finance, LLC to determine a proper corporate response and the case will be dismissed.

 

Section 9 - Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit 10.54:

 

Notice of Proposed Settlement of Derivative Claims with attached Settlement Agreement

 

 
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SIGNATURES

 

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.

 

Cool Technologies, Inc.

 

Date: June 1, 2016

By:

/s/ Timothy Hassett

Timothy Hassett

Chairman and CEO (Principal Executive Officer)

 

 

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