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): November 15, 2006
DELCATH SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-16133 06-1245881
(State or other jurisdiction of (Commission File (IRS Employer
incorporation) Number) Identification No.)
1100 Summer Street, Stamford, Connecticut 06905
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (203) 323-8668
N/A
(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 (see General Instruction A.2 below):
[ ] 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))
Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officer; Compensatory Arrangements of Certain Officers.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) In accordance with the Settlement Agreement dated as of October 8, 2006
with Laddcap Value Partners LP, a Delaware limited partnership; Laddcap Value
Advisors LLC, a Delaware limited liability company; Laddcap Value Associates
LLC, a Delaware limited liability company; affiliates of the foregoing; and Mr.
Robert B. Ladd (the "Settlement Agreement"), on November 15, 2006 the Company's
Board of Directors (the "Board") elected Richard L. Taney as a Class II Director
of the Company to serve until the 2008 Annual Meeting of Stockholders.
Mr. Taney formed T2 Capital Partners L.P. and T2 Capital Management, LLC in
2000 to invest in small and micro-cap companies.
The Board has not yet determined the Committees of the Board to which Mr.
Taney will be appointed.
Section 9 - Financial Statements and Exhibits.
Item 9.01. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits:
Exhibit Description
10.1 Settlement Agreement, dated as of October
8, 2006, by and between Delcath Systems,
Inc., Laddcap Value Partners LP, Laddcap
Value Advisors LLC, Laddcap Value
Associates LLC, any affiliates of any of
the foregoing, and Robert B. Ladd
(incorporated by reference to
Exhibit 10.1 to Delcath's Current Report
on Form 8-K dated October 8, 2006 (Commission
File No. 001-16133)).
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.
DELCATH SYSTEMS, INC.
By: /s/ M. S. KOLY
---------------------------
M. S. Koly
President and Chief Executive
Officer
Date: November 21, 2006