---
schema_version: "secwatch.filing_event.v1"
accession: "0000934549-23-000008"
form_type: "8-K"
ticker: "ACTG"
cik: "0000934549"
company_name: "ACACIA RESEARCH CORP"
filed_at: "2023-02-03T23:59:59+00:00"
generated_at: "2026-06-20T01:37:23.174459+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Internal investigation confirms former CEO Clifford Press misused corporate funds; arbitration demand filed

## Summary
- Investigation confirmed Press provided inaccurate expense info and misused funds for personal travel and entertainment.
- Press failed to follow board directive on a material contract and misrepresented compliance to the board.
- No restatement needed; company filed arbitration demand seeking restitution from Press for shareholder benefit.
- Press voluntarily withdrew his Delaware lawsuit seeking reinstatement as director after court rejected his status quo motion.
- Company enhanced Travel and Entertainment Policy and is considering additional internal policy measures.

## SEC filing metadata
- accession: 0000934549-23-000008
- form_type: 8-K
- ticker: ACTG
- cik: 0000934549
- company_name: ACACIA RESEARCH CORP
- filed_at: 2023-02-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/934549/000093454923000008/0000934549-23-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/934549/000093454923000008/actg-20230203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000934549-23-000008
- JSON: https://secwatch.observer/filing/0000934549-23-000008.json
- Plain text: https://secwatch.observer/filing/0000934549-23-000008.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.