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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): June 9, 1998
Tollycraft Yacht Corporation
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
0-21087 86-0849925
(Commission File Number) (I.R.S. Employer Identification No.)
2200 Clinton Avenue, Kelso, Washington 98626
(Address of principal executive offices, including Zip Code)
(360) 414-5910
(Registrant's telephone number, including Area Code)
(Former name or former address, if changed since last report)
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Item 5. Other Events.
Tollycraft Yachts disclosed today that it has been named as a defendant in a
nuisance law suit filed by Plantiff, Dennis Pursley. Tollycraft has been named
along with approximently 35 other defendants in a suit that alleges;
1) Intentional misrepresentation/fraud and deceit; 2) Conspiracy to defraud;
3) Sale of Security Not Qualified for sale; 4) Money had and received; and
5) Fraudulent Transfer. A Case Management Conference in San Diego Superior
Court, California, has been set in June 1998.
Tollycraft believes that the suit has absolutely no merit and intends to
defend itself vigorously. While Mr. Pursley is a shareholder and a note holder
in Tollycraft, he was never contacted by any of the 35 defendants to invest in
the company. Mr. Pursley's funds all came via the solicitation of his own
Registered Stock Broker who was with a Licensed Brokerage firm. It is
interesting to note that neither the broker nor the firm has been named as
defendants in the suit.
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.
TOLLYCRAFT YACHT CORPORATION
By: /s/ Peter D. Hobbs
_____________________________
Peter D. Hobbs, Chairman
Dated: June 9, 1998
