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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: May 23, 1997
RANGER INDUSTRIES, INC.
c/o Zeisler & Zeisler
558 Clinton Avenue
Bridgeport, Connecticut 06605
(212) 843-8975
Connecticut 1-5673 06-0768904
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(State of Incorporation) (Commission File No.) (IRS Id. No.)
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ITEM 5. OTHER EVENTS.
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This Current Report on Form 8-K is being filed with the Securities and
Exchange Commission by Ranger Industries, Inc. ("Ranger") for the purpose of
providing the following information: A complaint dated May 1, 1997 entitled
LEESA BUNCH, BY AND THROUGH HER GUARDIAN AD LITEM, TERRY BUNCH V. HASBRO, INC.
ET. AL. has been filed against Ranger in the Superior Court of the State of
California in the County of Glenn demanding damages totaling $70.0 million for
a claim involving an accident on August 13, 1993 in a swimming pool allegedly
manufactured by Ranger, formerly known as Coleco Industries, Inc. In connection
with the Second Amended and Restated Consolidated Plan of Reorganization of
Ranger, the Ranger Product Liability Trust (the "Trust") processes all product
liability claims arising out of events occurring on or after May 15, 1990. The
Trust has been notified of the complaint. The Trust contains assets of
approximately $11.4 million as of December 31, 1996. It is uncertain what
effect the pendency of this complaint will have on a request, if any is made,
to terminate the Trust earlier than its scheduled expiration date or to seek a
partial distribution of its assets.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(a) Financial Statement of Business Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
None.
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SIGNATURE
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.
Ranger Industries, Inc.
(Registrant)
Date: May 23, 1997 By: /s/ James B. Rubin
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James B. Rubin
President
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