- Current report filing (8-K)
February 22 2012 - 11:20AM
Edgar (US Regulatory)
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
Date
of Report:
February
22, 2012
MIDAS,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
(State
or other jurisdiction of incorporation)
01-13409
|
|
36-4180556
|
(Commission File Number)
|
|
(IRS Employer Identification No.)
|
1300 Arlington Heights Road, Itasca, Illinois
|
|
60143
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code:
(630)
438-3000
Item 7.01 Regulation FD Disclosure
Midas, Inc. (NYSE:
MDS
) received notice on Jan. 3, 2012, that its
European licensee, MESA S.p.A., had filed suit in the Court of Appeal in
Milan, Italy, claiming that Midas is in breach of the 1998 license
agreement and agreement for strategic alliance, under which MESA
operates the Midas automotive service business in Europe. As part of
that suit, MESA seeks a declaratory judgment suspending MESA’s
obligation to pay 80 percent of future royalty payments owed to Midas
under the license agreement.
MESA has failed to pay its full royalty payments due Midas under the
license agreement by paying only 20 percent of its royalties due in the
months of January and February 2012.
As a result, Midas has filed a complaint in Circuit Court of Cook County
(Chicago), Illinois, against MESA, claiming breach of contract and
seeking a declaratory judgment requiring MESA to continue to pay the
full amount of its royalties to Midas.
SIGNATURE
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused the report to be signed on its behalf by the undersigned
hereunto duly authorized.
Date:
|
February 22, 2012
|
MIDAS, INC.
|
|
|
|
|
|
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By:
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/s/ William M. Guzik
|
|
|
|
William M. Guzik
|
|
|
|
Chief Financial Officer
|
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