UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): March 5, 2007
FIRST BANCORP.
(Exact Name of
Registrant as Specified in its Charter)
001-14793
(Commission File Number)
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Puerto Rico
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66-0561882 |
(State or Other Jurisdiction
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(I.R.S. Employer |
of Incorporation)
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Identification No.) |
1519 Ponce de Leon
San Juan, Puerto Rico 00908-0146
(Address of Principal Executive Offices) (Zip Code)
(787) 729 8200
(Registrants 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))
Item 1.01 Entry into a Material Definitive Agreement.
On
March 5, 2007, First BanCorp (the Corporation) executed an agreement in principle to settle all
claims with the lead plaintiffs in a shareholder class action originally filed in 2005. Under the
terms of the settlement, which is subject to notice being provided to the class and final approval
by the United States District Court for the District of Puerto Rico, the Corporation will pay the
plaintiffs $74,250,000. A copy of the press release announcing the agreement is incorporated
herein by reference from Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
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Description |
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10.01
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Memorandum of Understanding dated March 5, 2007 |
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99.1
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Press Release dated March 5, 2007 |