<SEC-DOCUMENT>0001188112-11-002834.txt : 20111011
<SEC-HEADER>0001188112-11-002834.hdr.sgml : 20111010
<ACCEPTANCE-DATETIME>20111011165934
ACCESSION NUMBER:		0001188112-11-002834
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20111006
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20111011
DATE AS OF CHANGE:		20111011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALUE LINE INC
		CENTRAL INDEX KEY:			0000717720
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				133139843
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11306
		FILM NUMBER:		111135992

	BUSINESS ADDRESS:	
		STREET 1:		220 E 42ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2129071500
</SEC-HEADER>
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<TYPE>8-K
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<FILENAME>t71704_8k.htm
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -36pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Value Line, Inc.</font></div>

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<td width="39%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;13-3139843</font></font></td>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 8.01.&#160;&#160;Other Events.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Defendants have entered into an agreement with Plaintiffs to settle the consolidated shareholder derivative action filed on behalf of Value Line, Inc. (the &#8220;Company&#8221;) and titled <font style="FONT-STYLE: italic; DISPLAY: inline">Alan R. Kahn, derivatively, on behalf of Value Line, Inc. v. Jean </font><font style="FONT-STYLE: italic; DISPLAY: inline">Bernhard Buttner, </font><font style="FONT-STYLE: italic; DISPLAY: inline">et. al., </font>Supreme Court, New York County, Index No. 650320/2008.&#160;&#160;The consolidated shareholder derivative action is described in certain of the Company&#8217;s public filings, including the Form 10-K for the Company&#8217;s fiscal year ended April 30, 2011, filed with the Securities and Exchange Commission on July 29, 2011.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Defendants have denied and continue to deny each and all of the claims and contentions alleged by Plaintiffs.&#160;&#160;&#160;Nonetheless, Defendants have concluded that further litigation would be protracted and expensive, and that it is desirable that the case be fully and finally settled.&#160;&#160;There has, however, been no adverse determination by any court against any of the Defendants on the merits of the claims asserted by the Plaintiffs.&#160;&#160;The settlement will be funded by parties other than the Company and, therefore, will have no material effect on the financial condition, results of operations, or cash flow of the Company.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Court has scheduled a fairness hearing concerning the settlement for December 7, 2011 at 2:00 pm before the Hon. Bernard Fried, 60 Centre Street, New York, NY 10013 (the &#8220;Court&#8221;) to determine whether the proposed settlement of the consolidated derivative action should be approved by the Court.&#160;&#160;Pursuant to the terms of the proposed settlement, $2.9 million dollars (less all costs and expenses, including the Escrow Agent&#8217;s fees and expenses, the attorneys&#8217; fees and expenses as approved by the Court, and any other fees, costs and/or expenses relating to this case) will be paid in exchange for a Court-ordered release of claims that were or could have been asserted in the consolidated derivative action and the Judgment has become final and non-appealable.&#160;&#160;That sum will be distributed to the Company&#8217;s minority shareholders of record as of the date that the Court approves the settlement, provided that the Judgment has become final and non-appealable.&#160;&#160;The Company&#8217;s minority shareholders of record consist of all shareholders other than Arnold Bernhard &amp; Co., Inc., all other named defendants, and members of their immediate families.&#160;&#160;Plaintiffs&#8217; counsel intend on applying to the Court for an award of attorneys&#8217; fees and reimbursement of Plaintiffs&#8217; counsels&#8217; expenses equal to one third (33-1/3%) of the settlement fund.&#160;&#160;Value Line shareholders do not need to take any action in order to participate in, and receive a portion of, the settlement proceeds.&#160;&#160;Instead, those proceeds will be automatically distributed by the Escrow Agent.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Any objections either to the terms of the settlement or the proposed award of attorneys&#8217; fees and reimbursement of expenses must be received by no later than November 23, 2011 at 3:00 p.m.&#160;&#160;</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">Shareholders may submit objections to the terms of the proposed settlement or the proposed award of attorneys&#8217; fees and expenses to:

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">David Etkind, Esq.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">12 Marlette Place</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">White Plains, New York 10605</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">One Penn Plaza, Suite 2805</font></div>

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<td align="left" nowrap valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Howard A. Brecher</font></td>
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