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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) December 30, 1994
CENTRAL VERMONT PUBLIC SERVICE CORPORATION
(Exact name of registrant as specified in its charter)
Vermont 1-8222 03-0111290
(State of other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
77 Grove Street, Rutland, Vermont 05701
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (802) 773-2711
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On December 30, 1994, a lawsuit was filed in the United
States District Court for the District of Vermont, Civil Action
No. 2:94-CV386, against the Company, its present directors and
certain former directors. This lawsuit, which purports to be on
behalf of a class of consumers as well as on behalf of the
Company's stockholders in enforcing the rights of the Company,
alleges, among other things, (i) that F. Ray Keyser, Jr., Chairman
of the Company's Board of Directors, violated Section 8 of the
Clayton Act, 15 U.S.C. Subchapter 19, which precludes certain
interlocking directorships, (ii) that Mr. Keyser violated his
fiduciary duties to the Company's stockholders by acquiring and
operating a series of businesses in competition with the Company
without offering those business opportunities to the Company,
(iii) that the remaining individual defendants violated their
fiduciary duties to the Company's stockholders by failing to
analyze, or to cause management to analyze, diversification into
propane and fossil fuels, and by failing to make the Company an
effective competitor of alternative fuel companies, and (iv) that
the Company violated the applicable provision of the Vermont
General Corporation Law by failing to provide a list of the
Company's stockholders. The lawsuit seeks an unspecified amount
of damages (including treble damages against Mr. Keyser),
attorney's fees and costs, a list of the Company's stockholders,
and a court order to enjoin the defendants from alleged continuing
violations of the law. Each of the individual defendants and the
Company itself deny the allegations against them and intend to
vigorously defend the lawsuit.
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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 thereunto duly authorized.
CENTRAL VERMONT PUBLIC SERVICE CORPORATION
BY JAMES M. PENNINGTON
James M. Pennington, Controller and
Principal Accounting Officer
January 17, 1995
