Current Report Filing (8-k)
May 07 2015 - 3:20PM
Edgar (US Regulatory)
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UNITED STATES |
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 |
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Date of Report (Date of the earliest event reported)
May 4, 2015 |
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ULTRALIFE CORPORATION |
(Exact name of registrant as specified in its charter) |
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Delaware |
000-20852 |
16-1387013 |
(State of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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2000
Technology Parkway, Newark, New York |
14513 |
(Address of principal executive offices) |
(Zip Code) |
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(315) 332-7100 |
(Registrant’s telephone number, including area code) |
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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 (see General Instruction A.2. below): |
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[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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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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[ ] 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
As previously disclosed, an unoccupied Boeing 787 Dreamliner aircraft operated by Ethiopian Airlines was damaged
by a fire in July 2013 while parked at London Heathrow Airport. We participated in and provided technical assistance in support
of an investigation of this incident conducted by UK and US regulatory authorities as well as by the manufacturer of the aircraft,
being one of many downstream suppliers to that manufacturer. While a final report has not been issued by the regulatory authorities,
preliminary findings indicate that the fire may have been caused by circumstances related to the plane’s emergency locator
transmitter (ELT) manufactured by another company. We continue to provide support and comment as required to the ongoing investigation.
On May 4, 2015, we were notified of a lawsuit in which we were named, along with other suppliers to the aircraft manufacturer,
concerning that 2013 fire. The suit was filed by Ethiopian Airlines Enterprise in the Commercial Court, Queen’s Bench Division
of the High Court of Justice, London. The suit seeks as damages USD 42 million plus other unspecified amounts, including those
for loss of use and diminution in value of the aircraft. We maintain liability and products liability insurance through reputable
providers, and in accordance with our corporate practices, immediately advised and referred this matter to our insurers. We are
working with those insurers and their counsel to respond to and actively defend against this action. A component of the ELT is a battery pack incorporating Ultralife’s industry-standard lithium manganese
dioxide non-rechargeable D cell. Ultralife has had this cell in production since 2001, with millions of units produced and widely-used
for global defense and commercial applications. This battery product has gone through rigorous safety and qualification testing,
including United Nations Transport of Dangerous Goods, Manual of Tests and Criteria, and is authorized for use in aerospace applications
under Technical Standard Order C142. At this time, we maintain our belief that there is not a reasonable possibility that this
incident will result in a material financial exposure to the Company.
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.
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ULTRALIFE CORPORATION |
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May
7, 2015 |
By: |
/s/
Philip A. Fain |
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Chief Financial
Officer and Treasurer |
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