<SEC-DOCUMENT>0001490349-20-000013.txt : 20200508
<SEC-HEADER>0001490349-20-000013.hdr.sgml : 20200508
<ACCEPTANCE-DATETIME>20200508160757
ACCESSION NUMBER:		0001490349-20-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200508
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200508
DATE AS OF CHANGE:		20200508

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Medley Capital Corp
		CENTRAL INDEX KEY:			0001490349
		IRS NUMBER:				274576073
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00818
		FILM NUMBER:		20860574

	BUSINESS ADDRESS:	
		STREET 1:		280 PARK AVENUE
		STREET 2:		6TH FLOOR EAST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		212-759-0777

	MAIL ADDRESS:	
		STREET 1:		280 PARK AVENUE
		STREET 2:		6TH FLOOR EAST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Medley Capital BDC LLC
		DATE OF NAME CHANGE:	20100426
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>mcc8-k050820.htm
<DESCRIPTION>8-K
<TEXT>
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<div><a name="s4e5e50fe972041d39cc440bcdb99dcd2"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:5px;text-align:center;-sec-extract:summary;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;background-color:#ffffff;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;background-color:#ffffff;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">Washington, D.C. 20549</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#160;</font><hr></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;background-color:#ffffff;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#160;</font><hr></div><div style="line-height:120%;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">Current Report Pursuant to Section 13 or 15(d) of</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">the Securities Exchange Act of 1934</font></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">Date of Report (Date of earliest event reported): May 8, 2020</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#160;</font><hr></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:22pt;"><font style="font-family:inherit;font-size:22pt;background-color:#ffffff;font-weight:bold;">Medley Capital Corporation</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">(Exact Name of Registrant as Specified in its Charter)</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#160;</font><hr></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:26%;"></td><td style="width:1%;"></td><td style="width:47%;"></td><td style="width:1%;"></td><td style="width:25%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Delaware</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1-35040</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(State or other jurisdiction of incorporation)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">27-4576073</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Commission File Number)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(I.R.S. Employer Identification No.)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">280 Park Avenue, 6</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;background-color:#ffffff; font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">&#32;Floor East <br>New York, NY 10017</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">(Address of Principal Executive Offices and Zip Code)</font></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">Registrant&#8217;s telephone number, including area code:</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">&#32;(212)&#160;759-0777</font></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Not Applicable</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">(Former Name or Former Address, if Changed Since Last Report)</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#160;</font><hr></div><div style="line-height:120%;padding-top:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Securities registered pursuant to Section 12(b) of the Act:</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:90.4296875%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:46%;"></td><td style="width:1%;"></td><td style="width:18%;"></td><td style="width:1%;"></td><td style="width:34%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Title of each class</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Trading Symbol(s)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Name of each exchange on which registered</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Common Stock, par value $0.001 per share</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">MCC</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The New York Stock Exchange</font></div></td></tr><tr><td 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style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The New York Stock Exchange</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">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:&#160;</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;"><br></font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;"><br></font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr></table></div><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;"><br></font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr></table></div><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">&#168;</font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;"><br></font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">Emerging growth company &#9744;</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Item 8.01&#160;&#160;&#160;&#160;Other Events.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">On January 25, 2019, two purported class action complaints were filed against Medley Capital Corporation (the &#8220;Company&#8221;), Brook Taube, Seth Taube, Jeffrey Tonkel, Arthur S. Ainsberg, Karin Hirtler-Garvey, John E. Mack, Mark Lerdal, Richard T. Allorto, Jr., Medley Management Inc. (&#8220;MDLY&#8221;), Sierra Income Corporation (&#8220;Sierra&#8221;), and Sierra Management, Inc. in the Supreme Court of the State of New York, County of New York (the &#8220;Court&#8221;) . The complaints were captioned </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Helene Lax v. Brook Taube, et al.</font><font style="font-family:inherit;font-size:12pt;">, Index No. 650503/2019, and </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Richard Dicristino, et al. v. Brook Taube, et al.</font><font style="font-family:inherit;font-size:12pt;">, Index No. 650510/2019 (together with the Lax Action, the &#8220;New York Actions&#8221;).  The complaints in each of the New York Actions alleged that the individuals named as defendants breached their fiduciary duties in connection with the proposed merger of the Company with and into Sierra, and that the other defendants aided and abetted those alleged breaches of fiduciary duties. Compensatory damages in unspecified amounts were sought.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">On December 20, 2019, the Delaware Court of Chancery entered an Order and Final Judgment approving the settlement of another purported stockholder class action that was commenced in the Court of Chancery of the State of Delaware by FrontFour Capital Group LLC and FrontFour Master Fund, Ltd., captioned as </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">FrontFour Capital Group LLC, et al. v. Brook Taube et al.</font><font style="font-family:inherit;font-size:12pt;">, Case No. 2019-0100 (the &#8220;Delaware Action&#8221;) against defendants Brook Taube, Seth Taube, Jeffrey Tonkel, Mark Lerdal, Karin Hirtler-Garvey, John E. Mack, Arthur S. Ainsberg, MDLY, Sierra, the Company, MCC Advisors, Medley Group LLC, and Medley LLC.  </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The plaintiffs in the New York Actions have acknowledged that the settlement of the Delaware Action rendered the New York Actions moot; however, the attorneys for the plaintiffs in the New York Actions have asserted that they have the right to seek an order awarding them fees and recovery of expenses on account of their purported contributions to the settlement of the Delaware Action.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Following a period of negotiations, the Company has reached an agreement with the respective plaintiffs to resolve the New York Actions.  While the Company continues to believe that the allegations in the New York Actions are without merit, to avoid the nuisance, potential expense, burden and delay due to continued litigation, the Company has agreed to pay $50,000 in attorneys&#8217; fees and expenses to plaintiffs&#8217; counsel in connection with the mooted claims asserted. This amount will be covered by the Company&#8217;s insurance carrier.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Settlement of the New York Actions is expressly not to be construed as an admission of wrongdoing, fault or liability by any defendant. The defendants have vigorously denied, and continue to vigorously deny, any wrongdoing or liability with respect to the facts and claims asserted, or which could have been asserted, in the New York Actions, including that they have committed any violations of law or breach of fiduciary duty, aided and abetted any violations of law or breaches of fiduciary duty, acted improperly in any way or have any liability or owe any damages of any kind to the plaintiff or to the purported class. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A copy of the Stipulation and [Proposed] Order dismissing the New York Actions is attached hereto as Exhibit 99.1.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Item 9.01 &#160;&#160;&#160;&#160;Financial Statements and Exhibits.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a) Not applicable.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b) Not applicable.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c) Not applicable.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d) Exhibits.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:15%;"></td><td style="width:1%;"></td><td style="width:84%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit No.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Description</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">99.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="stipulationandproposedorder.htm"><font style="font-family:inherit;font-size:12pt;">Stipulation and [Proposed] Order</font></a></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">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.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:47%;"></td><td style="width:8%;"></td><td style="width:45%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date: May 8, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MEDLEY CAPITAL CORPORATION</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Richard T. Allorto, Jr.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Richard T. Allorto, Jr.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
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<TYPE>EX-99
<SEQUENCE>2
<FILENAME>stipulationandproposedorder.htm
<DESCRIPTION>EXHIBIT 99.1
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<div><a name="s818c58a8452c4f7695b26523e699d12b"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 99.1</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SUPREME COURT OF THE STATE OF NEW YORK</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">COUNTY OF NEW YORK</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:50%;"></td><td style="width:2%;"></td><td style="width:48%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-top:8px;text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">HELENE LAX, Individually and on Behalf of All Others Similarly Situated,</font></div><div style="text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Plaintiff,</font></div><div style="text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">v.</font></div><div style="text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">BROOK TAUBE, SETH TAUBE, JEFFREY TONKEL, ARTHUR S. AINSBERG, KARIN HIRTLER-GARVEY, JOHN E. MACK, MARK LERDAL, RICHARD T. ALLORTO, JR., MEDLEY CAPITAL CORPORATION, MEDLEY MANAGEMENT INC., SIERRA INCOME CORPORATION, and SIERRA MANAGEMENT, INC.,</font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Defendants.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;</font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;</font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;Index No. 650503/2019</font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;Hon. Peter O. Sherwood, JSC</font></div><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-top:8px;text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">RICHARD DICRISTINO and EVAN KHAN, On Behalf of Themselves and All Others Similarly Situated,</font></div><div style="text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Plaintiff,</font></div><div style="text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">v.</font></div><div style="text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">BROOK TAUBE, SETH TAUBE, JEFFREY TONKEL, ARTHUR S. AINSBERG, KARIN HIRTLER-GARVEY, JOHN E. MACK, MARK LERDAL, RICHARD T. ALLORTO, JR., MEDLEY CAPITAL CORPORATION, MEDLEY MANAGEMENT INC., SIERRA INCOME CORPORATION, and SIERRA MANAGEMENT, INC.,</font></div><div style="text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:left;padding-left:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Defendants.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">:</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;</font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;Index No. 650510/2019</font></div><div style="text-align:justify;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">STIPULATION AND [PROPOSED] ORDER</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, this stipulation dated May 7, 2020 is entered into by and among Plaintiffs Richard Dicristino, Evan Khan, and Helene Lax (together, &#8220;Plaintiffs&#8221;), and Defendants Medley Capital Corporation (&#8220;Medley Capital&#8221; or the &#8220;Company&#8221;), Brooke Taube, Seth Taube, Jeffrey Tonkel, Arthur S. Ainsberg, Karin Hirtler-Garvey, John E. Mack, Mark Lerdal, Richard T. Allorto, Jr., Medley Management Inc. (&#8220;MDLY&#8221;), </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:232%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Sierra Income Corporation (&#8220;SIC&#8221;), and Sierra Management, Inc. (each a &#8220;Party,&#8221; and the Plaintiffs and Defendants, collectively, the &#8220;Parties&#8221;);</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on August 9, 2018, SIC, Medley Capital, and MDLY issued a joint press release concerning definitive agreements pursuant to which (i) Medley Capital would, on the terms and subject to the conditions set forth in the Agreement and Plan of Merger, dated as of August 9, 2018, by and between Medley Capital and SIC, merge with and into SIC, with SIC continuing as the surviving company in the merger (the &#8220;Medley Capital Merger&#8221;), and (ii) MDLY would, on the terms and subject to the conditions set forth in the Agreement and Plan of Merger, dated as of August 9, 2018, by and between MDLY, SIC, and Sierra Management, Inc., a wholly owned subsidiary of SIC (&#8220;Merger Sub&#8221;), merge with and into Merger Sub, with Merger Sub continuing as the surviving company in the merger (together with the Medley Capital Merger, the &#8220;Transactions&#8221;);</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on January 25, 2019, Plaintiffs, stockholders of Medley Capital, filed their respective complaints in their Actions in the Supreme Court of the State of New York, County of New York (the &#8220;Court&#8221;), against the Defendants;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Complaints alleged breaches of fiduciary duties in connection with the Transactions;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on February 5, 2019, Plaintiffs demanded Defendants take certain actions to remedy the alleged breaches of fiduciary duties prior to the consummation of the Transaction;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on February 13, 2019, March 18, 2019, and March 22, 2019 Plaintiffs demanded Defendants take additional actions to remedy the alleged breaches of fiduciary duties prior to the consummation of the Transaction;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on February 11, 2019, certain Medley Capital shareholders commenced litigation challenging the Transactions in the Delaware Court of Chancery captioned In re Medley Capital Corporation Stockholder Litigation, Cons. C.A. No. 2019-0100-KSJM (Del. Ch.) (the &#8220;Delaware Action&#8221;);</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on March 6-7, 2019, the Delaware Court of Chancery held a trial in the Delaware Action; </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on July 29, 2019, certain parties to the Delaware Action reached a settlement (the &#8220;Delaware Settlement&#8221;); </font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on December 20, 2019, the Delaware Court of Chancery approved the Delaware Settlement;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Plaintiffs have acknowledged that the Delaware Settlement, which applies to a specified class of Medley Capital stockholders, rendered the Actions moot and asserted that Plaintiffs have the right to seek and recover attorneys&#8217; fees and expenses for their contribution in connection with the benefit provided, by and through their demands on Defendants and their maintaining the Actions, to Medley Capital shareholders as a result of the Delaware Settlement (the &#8220;Mootness Fee Claim&#8221;);</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Defendants deny any and all allegations of wrongdoing, fault, liability or damage to Plaintiffs or to the putative class Plaintiffs identified in the Actions; deny that they engaged in, committed or aided or abetted the commission of any breach of duty, wrongdoing or violation of law; deny that Plaintiffs or any of the putative class members suffered any damage whatsoever; deny that they acted improperly in any way; believe that they acted properly at all times; maintain that they complied with their fiduciary duties; maintain that they have complied with federal and state securities laws; and maintain that they have committed no disclosure violations or any other breach of duty or wrongdoing whatsoever in connection with the Transactions;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Defendants deny that the Actions contributed to the Delaware Settlement; </font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, following the Delaware Settlement and Plaintiffs&#8217; acknowledgment that the Delaware Settlement rendered the Actions moot, the Parties entered into negotiations concerning the Mootness Fee Claim, and reached agreement to resolve the Mootness Fee Claim for $50,000.00 (FIFTY THOUSAND DOLLARS) for all Plaintiffs&#8217; Counsel in the Actions in full satisfaction of any of Plaintiffs&#8217; or Plaintiffs&#8217; Counsel&#8217;s claims for fees or costs, which amount will be covered by the Company&#8217;s insurance carrier;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on May 1, 2020, Medley Capital received a notice of termination from SIC of its agreement to merge with Medley Capital pursuant to the Amended and Restated Agreement and Plan of </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:232%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Merger, dated as of July 29, 2019, between Medley Capital and SIC, and, as a result, the Medley Capital Merger has been terminated;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, in light of the Delaware Settlement, Plaintiffs seek to discontinue the Actions, with prejudice as to the named Plaintiffs only;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, CPLR 908 provides that a class action shall not be dismissed without the approval of the court and that notice of such dismissal shall be given to all members of the class in such manner as the court directs;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, no class has been certified in either of the Actions;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, no party has filed a responsive pleading in either of the Actions; and</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, discontinuance of the Actions will be without prejudice as to all putative class members other than the named Plaintiffs;</font></div><div style="line-height:232%;text-align:justify;text-indent:46px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">IT IS HEREBY STIPULATED AND AGREED TO BY THE UNDERSIGNED COUNSEL FOR THE PARTIES, subject to the Order of the Court, that this action shall be dismissed pursuant to CPLR 908 and 3217;</font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">IT IS FURTHER STIPULATED AND AGREED, that Defendants shall provide notice of the dismissal of the Actions through the filing of a Form 8-K with the Securities Exchange Commission, which is annexed hereto as Exhibit A; </font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">IT IS FURTHER STIPULATED AND AGREED, that all parties are to bear their own costs; </font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">IT IS FURTHER STIPULATED AND AGREED, that this stipulation may be signed in counterparts and delivered by facsimile or email.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dated: </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">New York, New York</font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">May 7, 2020</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:91.015625%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:46%;"></td><td style="width:8%;"></td><td style="width:46%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CADWALADER, WICKERSHAM &amp; TAFT LLP</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Jason M. Halper</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Nathan M. Bull</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">200 Liberty Street </font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">New York, NY 10281</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Attorneys for Brooke Taube, Seth Taube, Jeffrey Tonkel, Richard T. Allorto, Jr., and Medley Management Inc.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MONTEVERDE &amp; ASSOCIATES P.C.</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Juan E. Monteverde</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Miles D. Schreiner</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">350 Fifth Avenue, Suite 4405</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">New York, New York 10118</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Attorneys for Plaintiffs Richard Dicristino and Evan Khan</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WOLF HALDENSTEIN ALDER FREEMAN &amp; HERZ LLP</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Benjamin Y. Kaufman </font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Kevin G. Cooper</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">270 Madison Ave. 10</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;Floor </font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">New York, NY 10016</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Attorneys for Plaintiff Helene Lax</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MOLOLAMKEN LLP</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">___________________________________Steven F. Molo</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">430 Park Avenue</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">New York, NY 10022</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Attorney for Medley Capital Corporation</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">KRAMER LEVIN NAFTALIS &amp; FRANKEL LLP</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Alan R. Friedman</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1177 Avenue of the Americas</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">New York, NY 10036</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Attorney for Arthur S. Ainsberg, Karin Hirtler-Garvey, John E. Mack, and Mark Lerdal</font></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">DECHERT LLP</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Matthew L. Larrabee</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Paul Curran Kingsbery</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1095 Avenue of the Americas</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">New York, NY 10036</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Joshua D.N. Hess (Of Counsel)</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">DECHERT LLP</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1900 K Street, NW</font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Washington, DC 20006</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Attorneys for Sierra Income Corporation and Sierra Management, Inc.</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SO ORDERED:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">_______________________________</font></div><div style="line-height:120%;text-align:left;padding-left:336px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">Hon. Peter O. Sherwood, J.S.C.</font></div><div style="line-height:120%;text-align:left;padding-left:336px;text-indent:-336px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:336px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">DATED:</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
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