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<head><title>Converted by EDGARwiz</title> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:Times New Roman; COLOR:#000000; FONT-SIZE:10pt"> <div style=WIDTH:768px> <p style=MARGIN:0px><br></p> <p style="MARGIN-TOP:9px; MARGIN-BOTTOM:0px">&nbsp;</p> <p style=MARGIN:0px align=center><b>UNITED STATES</b></p> <p style=MARGIN:0px align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style=MARGIN:0px align=center><b>WASHINGTON, D.C. 20549</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="MARGIN:0px; FONT-SIZE:16pt" align=center><b>FORM 8-K</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=center><b>CURRENT REPORT PURSUANT</b></p> <p style=MARGIN:0px align=center><b>TO SECTION 13 OR 15(D) OF</b></p> <p style=MARGIN:0px align=center><b>THE SECURITIES EXCHANGE ACT OF 1934</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=center>Date of report (Date of earliest event reported): <b><u>January 15, 2013</u></b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:16pt" align=center><b><u>ClearOne, Inc.</u></b></p> <p style=MARGIN:0px align=center>(Exact Name of Registrant as Specified in Its Charter)</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=center><b><u>Utah</u></b></p> <p style=MARGIN:0px align=center>(State or Other Jurisdiction of Incorporation)</p> <p style=MARGIN:0px><br></p> <table bordercolor=transparent style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=383> <td width=39> <td width=345 /> </tr><tr> <td width=383 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>001-33660</b></p></td> <td width=39 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=345 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>87-0398877</b></p></td></tr> <tr> <td width=383 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center>(Commission File Number)</p></td> <td width=39 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=345 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center>(I.R.S. employer</p> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center>identification number)</p></td></tr></table> <p style=MARGIN:0px><br></p> <table bordercolor=transparent style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=554> <td width=33> <td width=180 /> </tr><tr> <td width=554 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>5225 Wiley Post Way, Suite 500</b></p> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>Salt Lake City, Utah</b></p></td> <td width=33 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=180 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center>&nbsp;</p> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>84116</b></p></td></tr> <tr> <td width=554 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center>(Address of principal executive offices)</p></td> <td width=33 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=180 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center>(Zip Code)</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><b><u>(801) 975-7200</u></b></p> <p style=MARGIN:0px align=center>(Registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Telephone Number, Including Area Code)</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><b><u>Not applicable</u></b></p> <p style=MARGIN:0px align=center>(Former Name or Former Address, if Changed Since Last Report)</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px>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:</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p> <table bordercolor=transparent style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=91> <td width=19> <td width=657 /> </tr><tr> <td width=91 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td width=19 style=MARGIN-TOP:0px valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=657 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td></tr></table> <p style=MARGIN:0px><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:13px"><br>&nbsp;</p> <p style=MARGIN:0px><br></p> <table bordercolor=transparent style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=97> <td width=670 /> </tr><tr> <td width=97 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px"><b>Item 1.01</b></p></td> <td width=670 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify><b>Entry into a Material Definitive Agreement.</b></p></td></tr></table> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt" /> <p style="MARGIN-TOP:0px; WIDTH:48px; MARGIN-BOTTOM:-2px; FLOAT:left">(a)</p> <p style="TEXT-INDENT:-2px; MARGIN:0px" align=justify>ClearOne, Inc. (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) previously reported in its periodic filings (by Form 8-K, dated November 19, 2012) that it expected resolution by the end of 2012 of two pending arbitration matters concerning auction rate securities sold to the Company by Morgan Stanley &amp; Co., Inc. (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Morgan Stanley<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) and UBS Financial Services, Inc. (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>UBS<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>). &nbsp;The Company has determined the outcome of both matters, involving substantially identical claims against two different parties, effective January 14, 2013. &nbsp;</p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt" /> <p style="MARGIN-TOP:0px; WIDTH:48px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left">(b)</p> <p style="TEXT-INDENT:-2px; MARGIN:0px" align=justify>With respect to the Morgan Stanley arbitration, the arbitration panel denied the Company's claims in their entirety;</p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt" /> <p style="MARGIN-TOP:0px; WIDTH:48px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left">(c)</p> <p style="TEXT-INDENT:-2px; MARGIN:0px" align=justify>With respect to the UBS arbitration, the company has settled its dispute for a total amount of Forty-Five Million Dollars ($45,000,000), effective December 10, 2012. &nbsp;The settlement agreement was subject to a confidentiality provision pending resolution of the Morgan Stanley arbitration matter described immediately above. &nbsp;The settlement award is subject to a 15% contingency legal fee payable to the </p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:0px" align=justify>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s litigation counsel. The UBS settlement proceeds have been held in trust pending resolution of the Morgan Stanley matter and will be disbursed to the company shortly, with interest, less the contingency fee paid to the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s legal counsel.</p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:0px; CLEAR:left" align=justify><br>&nbsp;</p> <table bordercolor=transparent style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=97> <td width=670 /> </tr><tr> <td width=97 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px"><b>Item 8.01</b></p></td> <td width=670 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify><b>Other Events.</b></p></td></tr></table> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:-2px; MARGIN:0px" align=justify>The information contained in Item 1.01 relating to arbitration matters concerning auction rate securities (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>ARS<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) is incorporated by reference herein. &nbsp;</p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:0px; CLEAR:left"><br></p> <p style="LINE-HEIGHT:0.05pt; MARGIN:0px">&nbsp;</p> <p style=MARGIN:0px align=center><b>SIGNATURES</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px>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.</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <table bordercolor=transparent style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=290> <td width=52> <td width=424 /> </tr><tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=477 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:2px" align=justify>CLEARONE, INC.</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>Date:&nbsp;January 15, 2013</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>By:</p></td> <td width=424 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>/s/ Zeynep Hakimoglu</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>Zeynep Hakimoglu</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>Chief Executive Officer</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px><br></p></div></body>
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Converted by EDGARwiz
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):
January 15, 2013
ClearOne, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Utah
(State or Other Jurisdiction of Incorporation)
001-33660
87-0398877
(Commission File Number)
(I.R.S. employer
identification number)
5225 Wiley Post Way, Suite 500
Salt Lake City, Utah
84116
(Address of principal executive offices)
(Zip Code)
(801) 975-7200
(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 communication 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.
(a)
ClearOne, Inc. (the
"
Company
"
) previously reported in its periodic filings (by Form 8-K, dated November 19, 2012) that it expected resolution by the end of 2012 of two pending arbitration matters concerning auction rate securities sold to the Company by Morgan Stanley & Co., Inc. (
"
Morgan Stanley
"
) and UBS Financial Services, Inc. (
"
UBS
"
).  The Company has determined the outcome of both matters, involving substantially identical claims against two different parties, effective January 14, 2013.
(b)
With respect to the Morgan Stanley arbitration, the arbitration panel denied the Company's claims in their entirety;
(c)
With respect to the UBS arbitration, the company has settled its dispute for a total amount of Forty-Five Million Dollars ($45,000,000), effective December 10, 2012.  The settlement agreement was subject to a confidentiality provision pending resolution of the Morgan Stanley arbitration matter described immediately above.  The settlement award is subject to a 15% contingency legal fee payable to the
Company
'
s litigation counsel. The UBS settlement proceeds have been held in trust pending resolution of the Morgan Stanley matter and will be disbursed to the company shortly, with interest, less the contingency fee paid to the Company
'
s legal counsel.
Item 8.01
Other Events.
The information contained in Item 1.01 relating to arbitration matters concerning auction rate securities (
"
ARS
"
) is incorporated by reference herein.
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.
CLEARONE, INC.
Date: January 15, 2013
By:
/s/ Zeynep Hakimoglu
Zeynep Hakimoglu
Chief Executive Officer