CPI CARD GROUP INC. (NASDAQ:PMTS) Files An 8-K Regulation FD Disclosure

ME Staff 8-k
-
0
CPI CARD GROUP INC. (NASDAQ:PMTS) Files An 8-K Regulation FD Disclosure

CPI CARD GROUP INC. (NASDAQ:PMTS) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.*

On January 2, 2020, the United States District Court for the District of Delaware granted preliminary approval of the settlement in the stockholder derivative action captioned Heckermann v. Montross et al., C.A. No. 1:17-cv-01673-CFC. The settlement will resolve all claims that were or could have been asserted in the litigation, and CPI Card Group Inc. (the “Company”) and the named defendants denied and continue to deny any liability or wrongdoing in connection with the allegations contained in the lawsuit. Under the settlement, CPI will implement certain corporate governance reforms and CPI’s insurer will pay fees and expenses awarded to the plaintiff’s counsel. There is no further monetary settlement. The derivative action was filed in late 2017 and related to CPI’s initial public offering in 2015.

The settlement is subject to final court approval.

to the Order granting preliminary approval, the Company is publishing the Notice of Settlement to CPI Stockholders (the “Notice”), attached hereto as Exhibit 99.1. The Stipulation and Agreement of Settlement is attached hereto as Exhibit 99.2 (the “Stipulation”). The Notice and the Stipulation are available for review on the Company’s investor relations website at https://investor.cpicardgroup.com/home/. The contents of the Company’s website shall not be deemed to be incorporated by reference into this Item 7.01.

Item 9.01(d) Exhibits

* The information furnished under Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

CPI Card Group Inc. Exhibit
EX-99.1 2 a20-1765_1ex99d1.htm EX-99.1 Exhibit 99.1   UNITED STATES DISTRICT COURT DISTRICT OF DELAWARE   GERHARD HECKERMANN,…
To view the full exhibit click here

About CPI CARD GROUP INC. (NASDAQ:PMTS)

CPI Card Group Inc., formerly CPI Holdings I, Inc., provides Financial Payment Card solutions in North America. The Company is engaged in the design, production, data personalization, packaging and fulfillment of Financial Payment Cards, which it defines as credit cards, debit cards and prepaid debit cards issued on the networks of the Payment Card Brands in the United States, Europe and Canada. It is also engaged in the design, production, data personalization, packaging and fulfillment of retail gift and loyalty cards. Its segments include U.S. Debit and Credit, which produces Financial Payment Cards and provides integrated card services to card-issuing banks in the United States; U.S. Prepaid Debit, which provides integrated card services to Prepaid Debit Card issuers in the United States; U.K. Limited, which produces retail cards for customers in the United Kingdom and continental Europe, and Other, which has operations in Ontario, Canada and Petersfield, United Kingdom.