0001181431-11-048351.txt : 20110907 0001181431-11-048351.hdr.sgml : 20110907 20110907150036 ACCESSION NUMBER: 0001181431-11-048351 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110831 ITEM INFORMATION: Other Events FILED AS OF DATE: 20110907 DATE AS OF CHANGE: 20110907 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bank of the Carolinas CORP CENTRAL INDEX KEY: 0001365997 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 204989192 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52195 FILM NUMBER: 111078007 BUSINESS ADDRESS: STREET 1: 135 BOXWOOD VILLAGE DRIVE CITY: MOCKSVILLE STATE: NC ZIP: 27028 BUSINESS PHONE: 336-751-5755 MAIL ADDRESS: STREET 1: 135 BOXWOOD VILLAGE DRIVE CITY: MOCKSVILLE STATE: NC ZIP: 27028 8-K 1 rrd321433.htm Prepared By R.R. Donnelley Financial -- Form 8-K
 
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):  08/31/2011
 
Bank of the Carolinas Corporation
(Exact name of registrant as specified in its charter)
 
Commission File Number:  000-52195
 
North Carolina
  
20-4989192
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
135 Boxwood Village Drive, Mocksville, North Carolina 27028
(Address of principal executive offices, including zip code)
 
(336) 751-5755
(Registrant’s telephone number, including area code)
 
(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 8.01.    Other Events
 
On August 31, 2011, the parties to the civil action Michael D. Larrowe v. Bank of the Carolinas, et al., (No. 1:10-CV-378), brought in the United States District Court for the Middle District of North Carolina, filed a stipulation of dismissal in which the parties agreed to dismiss their claims against one another. The dismissal is "with prejudice," meaning that the parties may not file suit against each other again on the same claims. All parties agreed to bear their own costs and legal fees. No funds were exchanged in order to effect the dismissal.

Mr. Larrowe was formerly the chief financial officer and a director of Bank of the Carolinas Corporation and its wholly owned subsidiary, Bank of the Carolinas (the "Bank"). He also served as the Bank's executive vice chairman and chief operating officer. On May 14, 2010, Mr. Larrowe instituted the above-referenced lawsuit against the Bank and certain of its directors and employees.

 

 

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.
 
           
Bank of the Carolinas Corporation
 
 
Date: September 07, 2011
     
By:
 
/s/    Eric E. Rhodes
               
Eric E. Rhodes
               
Executive Vice President and Chief Financial Officer