secwatch.observer — SEC 8-K summary
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Issuer:     UNICO AMERICAN CORP (—)
CIK:        0000100716
Form:       8-K
Filed at:   2023-06-12T23:59:59+00:00
Accession:  0001654954-23-007910
Event type: regulatory
Sentiment:  negative
Materiality: 0.95
Item codes: 1.03, 3.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unico American's sole unit Crusader placed under California insurance conservatorship; Nasdaq to delist stock June 15
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- Crusader Insurance Company placed under conservatorship by California Insurance Commissioner on June 7, 2023.
- Court accepted Commissioner's finding that Crusader is in hazardous financial condition; company opposed but order stands.
- Conservator assumed all control of Crusader's assets and operations; Crusader was Unico's only active subsidiary.
- Nasdaq determined Unico is a public shell; trading suspended June 15 and delisting to follow; company will not appeal.
- Stock may become eligible for OTC Pink or Expert Market, but no assurance a market maker will quote the shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100716/000165495423007910/0001654954-23-007910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100716/000165495423007910/unam_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-007910

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