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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) April 15, 1997
(April 10, 1997)
TORCHMARK CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-8052 63-0780404
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation)
2001 Third Avenue South, Birmingham, Alabama 35233
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (205) 325-4200
None
(Former name or former address, if changed since last report)
Index of Exhibits page 2.
Total number of pages in this report is 3.
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Item 5. Other Events.
As previously reported, a jury in Chambers County, Alabama Circuit
Court returned a verdict of $333,000 compensatory damages and $17.2 million in
punitive damages against Liberty National Life Insurance Company ("Liberty") on
June 11, 1996, in McQuiston v. Liberty National Life Insurance Company
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(CV-94-234). The case arose out of a claim which had been denied due to an
alleged misrepresentation in the application. There was a recorded telephone
interview with the applicant in which a statement was given which Liberty
alleges was a misrepresentation of the health of the proposed insured. After the
litigation was filed, it was learned that the applicant's signature on the
application was neither that of the insured nor his wife. Upon verification of
this fact, Liberty paid the $20,000 claim proceeds into court. Liberty filed
various motions for post-trial relief with the Court, subject to post-trial
discovery. A post-trial hearing was held on March 28, 1997, wherein plaintiff
conceded that a new trial was appropriate on the ground that the verdict
returned was a quotient verdict. On April 10, 1997, the Circuit Court Judge
entered an order granting a new trial. Liberty's Motion for Judgment
Notwithstanding the Verdict was denied.
Item 7. Financial Statements and Exhibits.
No financial statements, pro forma financial information or
exhibits are required to be filed with this Form 8-K.
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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 hereunto duly authorized.
TORCHMARK CORPORATION
Date: April 15, 1997 /s/ Michael J. Klyce
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Michael J. Klyce
Vice President and Treasurer
