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 (Date of earliest event reported): July 23, 2020

 

Koss Corporation

(Exact name of registrant as specified in its charter)

 

Delaware	0-3295	39-1168275
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

 

4129 North Port Washington Avenue, Milwaukee, Wisconsin 53212

(Address of principal executive offices)  (Zip code)

 

(414) 964-5000

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

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:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:
 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common	KOSS	NASDAQ

 

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐   

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   

 

 

Item 7.01     Regulation FD Disclosure.

 

On July 23, 2020 Koss Corporation (the “Company”) issued a press release announcing that it had filed lawsuits in United States District Court against multiple companies for patent infringement relating to the Company’s technology. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

The information contained in this Item 7.01 of this report and Exhibit 99.1 hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. The information in this Item 7.01 shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

 

 

 

Item 9.01     Financial Statements and Exhibits.

 

(d) Exhibits

 

Number		Description
Exhibit 99.1		Press Release of Koss Corporation Dated July 23, 2020

 

 

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.

 

July 23, 2020	KOSS CORPORATION
	By:	/s/ Michael J. Koss
		Michael J. Koss
		Chairman and Chief Executive Officer

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE	CONTACT:	IPmedia@koss.com
July 23, 2020

 

Koss® Corporation Announces Second Phase of Intellectual Property Enforcement Program

 

(Milwaukee, Wisconsin) July 23, 2020 – Koss® Corporation (NASDAQ Symbol: KOSS), the U.S. based high-fidelity Stereophone manufacturer and inventor of the world’s first SP/3 Stereophone in 1958, announced the next phase of the company’s intellectual property enforcement program.

 

“Koss has taken deliberate action and filed multiple complaints in United States District Court against multiple companies that we believe are engaging in the willful infringement of several Koss patents,” said Michael J. Koss, Jr., Vice President – Marketing & Product.

 

The Koss patents in this enforcement action date back to the mid-2000s when Koss began investing heavily in developing and inventing truly wireless headphones capable of operating as bidirectional endpoints, the company called this project “Striva”. Many of the features of the various headphones and other devices that Koss invented as part of Striva were patented, and Koss believes that major brands in the audio industry are now willfully infringing upon these patents.

 

“In 1958, my grandfather, John C. Koss invented the world’s first SP/3 Stereophone. That invention has often been credited for creating the global stereo headphone industry. Almost 50 years later, my father, Michael J. Koss, Koss Corporation Chairman and CEO, carried on my grandfather’s inventive spirit with the creation of Striva,” said Koss.

 

Koss went on to explain that the company is monitoring developments in the market and will take action against other unauthorized products being sold that infringe on any of its patents.

 

“Our singular focus has been to shepherd the industry that John Koss created by obsessively developing new products to bring people closer to the music they love,” Koss said. “It is impossible for us to be responsible stewards of our industry when our ideas, inventions and intellectual property rights are disregarded.”

 

 

Koss® Corporation: The Original American Stereophone Company since 1958

Koss® markets a complete line of high-fidelity headphones, wireless Bluetooth® headphones, wireless Bluetooth® speakers, computer headsets, telecommunications headsets, active noise canceling headphones, and compact disc recordings of American Symphony Orchestras on the Koss Classics® label. For more information, follow Koss on Instagram @Koss, Twitter @KossHeadphones, on Facebook at Facebook.com/Koss, or at Koss.com.

 

 

This press release contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "may," "will," "should," "forecasts," "predicts," "potential," "continue," or the negative of such terms and other comparable terminology. These statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties. Actual events or results may differ materially. In evaluating forward-looking statements, you should specifically consider various factors that may cause actual results to vary from those contained in the forward-looking statements, such as general economic conditions, in particular, consumer demand for the Company's and its customers' products, competitive and technological developments, foreign currency fluctuations, and costs of operations. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances or new information. In addition, such uncertainties and other operational matters are discussed further in the Company's quarterly and annual filings with the Securities and Exchange Commission.