SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
May 16, 1994
Commission file number 1-8948
INTELOGIC TRACE, INC.
(Exact name of registrant as specified in its charter)
New York 74-2368260
(State or other jurisdiction of (I. R. S. Employer
incorporation or organization) Identification No.)
Turtle Creek Tower I
P. 0. Box 400044, San Antonio, Tx. 78229-8415
(Address of principal executive offices) (Zip Code)
210-593-5700
(Registrant's telephone number, including area code)
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Item 5. Other Events
On Friday, May 13, 1994, Intelogic Trace, Inc. issued a press
release which announced that a settlement had been reached in two
shareholder derivative lawsuits brought against certain of the
company's present and former directors which alleged breach of
fiduciary duties in connection with certain transactions.
Although the defendants expressly disclaim and deny any liability
or wrongdoing with respect to the allegations in these lawsuits,
a settlement had been reached in order to avoid the additional
expense, burden, inconvenience and distraction of continued
litigation.
Pursuant to the Settlement Agreement, which is subject to Court
approval, I T will receive $2.4 million less attorneys' fees and
expenses (not to exceed $800,000) awarded by the Court. In
addition, within six months of the time that the settlement
becomes final, I T's Board of Directors agreed to (a) form a
committee to investigate all ways to maximize the value of I T's
investment in Datapoint Corporation and (b) adopt a resolution
requiring approval of the Board of Directors for all investments
of I T funds in excess of $5 million. The cash portion of the
settlement is fully covered by I T's director and officer
liability insurance.
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.
INTELOGIC TRACE, INC.
Date: May 16, 1994 By:
Philip D. Freeman
Senior Vice President,
General Counsel and Secretary
