e8vk
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): April 14, 2008
MACKINAC FINANCIAL CORPORATION
(previous filings under the name NORTH COUNTRY FINANCIAL CORPORATION)
(Exact name of registrant as specified in its charter)
|
|
|
|
|
MICHIGAN
|
|
0-20167
|
|
38-2062816 |
|
|
|
|
|
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.) |
|
|
|
130 SOUTH CEDAR STREET, MANISTIQUE, MICHIGAN
|
|
49854 |
|
|
|
(Address of principal executive offices)
|
|
(Zip Code) |
Registrants telephone number, including area code: (888) 343-8147
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):
|
|
|
o |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
o |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
o |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
o |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Mackinac Financial Corporation (the Corporation) is pleased to announce the settlement of a
shareholder derivative action lawsuit. The Corporation will receive approximately $3.5 million
after payment of attorneys fees and expenses. This derivative action was initiated in July 2003
with the Corporation named as a nominal defendant and ultimate beneficiary. Attached to this
filing as Exhibit A, is a copy of the Notice of Settlement of Derivative Action which will be
mailed to all shareholders of the Corporation. This notice provides additional information
concerning the settlement.
Shareholders of the Corporation have until April 28, 2008, to file objections related to the
settlement with the court. The final hearing of the settlement is scheduled for May 1, 2008. The
settlement would then be disbursed, 30 days later, on or about June 1, 2008.
(c) Exhibits
The
following exhibit is furnished herewith:
|
|
|
EXHIBIT
NUMBER
|
|
EXHIBIT DESCRIPTION |
|
|
|
|
Exhibit
99.1
|
|
Notice of Settlement of Derivative Action |
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.
|
|
|
|
|
|
|
MACKINAC FINANCIAL CORPORATION
|
|
Date: April 14, 2008 |
By: |
/s/ Ernie R. Krueger
|
|
|
|
Ernie R. Krueger |
|
|
|
EVP/CFO |
|
EXHIBIT INDEX
|
|
|
EXHIBIT
NUMBER
|
|
EXHIBIT DESCRIPTION |
|
|
|
|
Exhibit
99.1
|
|
Notice of Settlement of Derivative Action |