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 30, 2002
FREQUENCY ELECTRONICS, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-8061 11-1986657
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
55 Charles Lindbergh Blvd., Mitchel Field, NY 11553
(Address of principal executive offices) (Zip Code)
(516) 794-4500
(Registrant's telephone number, including area code)
NONE
(Former name, former address and former fiscal year,
if changed since last report)
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Page 1 of 3 pages
ITEM 5. OTHER EVENTS
On April 30, 2002, Frequency Electronics, Inc. (referred to as "FEI")
settled the arbitration proceeding it had commenced in June 2001 before the
American Arbitration Association against The Home Insurance Company of Illinois
("Home") under an excess directors and officers liability insurance policy. FEI
had asserted claims for its loss relating to, among other matters, sums it paid
in connection with the Global Settlement and Disposition with the Government on
June 19, 1998. Under the terms of the settlement agreement, Home paid FEI One
Million Five Hundred Thousand ($1,500,000) Dollars, FEI released its claims and
the arbitration was discontinued. FEI has now recovered a total of Nine Million
($9,000,000) Dollars under the primary and excess insurance policies which
covered the loss relating to the Global Settlement and Disposition and related
matters.
For a further discussion of FEI's claims against its insurance carriers
reference is made to the Forms 10-K for the fiscal years ended April 30, 2001
and April 30, 1998, respectively, filed by FEI under Section 13 of the
Securities Exchange Act of 1934, which are on file at the Securities and
Exchange Commission.
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.
FREQUENCY ELECTRONICS, INC.
By: /s/Alan Miller
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Alan Miller
Treasurer and
Chief Financial Officer
Dated: May 6, 2002