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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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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): October 15, 2008 | ||
 U.S.
AUTO PARTS NETWORK, INC.
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(Exact
name of registrant as specified in its charter)
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Delaware
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001-33264
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68-0623433
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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17150
South Margay Avenue, Carson,
CA 90746
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| (Address of principal executive offices) (Zip Code) | ||
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(310)
735-0085
(Registrant’s
telephone number, including area code)
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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
8.01. Other Events.
On
October 15, 2008, the United States District Court Judge for the Central
District of California issued a final order and judgment in the matter entitled:
In re U.S. Auto Parts Network,
Inc. Securities Litigation, Case No. CV 07-2030-GW (JC). This
order granted approval of the stipulation of settlement that was filed with the
Court on May 1, 2008 and was preliminarily approved by the Court on June 13,
2008. This settlement was previously disclosed in the Company’s
periodic reports (most recently in the Company’s Form 10-Q for the quarter ended
June 30, 2008), and will become final upon expiration of the applicable appeals
period.
Under
this settlement, all claims in this lawsuit against the Company and its past and
present officers and directors named as defendants have been dismissed with
prejudice, in exchange for payment of $10 million to the settlement fund, of
which $3.4 million plus legal expenses will be paid by the Company and was
accrued on the Company’s financial statements as of December 31,
2007. In July 2008, the Company funded its portion of the settlement
amount to an escrow account while final approval by the Court was
pending.
The
information in this Form 8-K is furnished and shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), nor shall it be deemed incorporated by reference
in any filing under the Exchange Act or the Securities Act of 1933, as
amended.
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 hereunto
duly authorized.
Dated: October
22,
2008 U.S.
AUTO PARTS NETWORK, INC.
By: /s/ MICHAEL J.
MCCLANE
Michael
J. McClane
Chief
Financial Officer