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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 29, 1995
GREAT WESTERN FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-4075 95-1913457
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
9200 Oakdale Avenue, Chatsworth, California 91311
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (818) 775-3411
(Former name or former address, if changed since last report.)
Not applicable.
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Item 5. Other Events
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Great Western Financial Corporation (the "Company") and certain of its
subsidiaries and their employees are defendants in three actions which allege
that defendants misused confidential customer data belonging to deposit
customers of Great Western Bank, a Federal Savings Bank ("GWB") and misled
depositors to move their savings from federally insured deposit accounts to
proprietary mutual funds and other securities which were uninsured, fluctuated
in value, and for which a commission was charged. One action was brought by 24
customers of the Company's subsidiary, Great Western Financial Securities
Corporation ("GWFSC"), on their own behalf seeking damages for losses sustained
when plaintiffs purchased securities through GWFSC. Plaintiffs in that action
also seek to represent the people of the State of California with respect to
claims alleging unfair and misleading business practices. The second action has
been conditionally certified as a class action on behalf of all California
residents who, from April 13, 1992 through April 14, 1995, were deposit
customers of a GWB branch in fourteen California counties who bought securities
through GWFSC. The final action is a putative class action brought on behalf of
all full and part-time residents of the State of Florida who from May 8, 1991
through May 8, 1995 were customers of a GWB branch or who sought the services of
a GWB branch and who purchased certain proprietary mutual funds through GWFSC.
The Company and its subsidiaries have also been advised by the Securities and
Exchange Commission of an inquiry into the allegations in two of the actions.
The Company and its subsidiaries are vigorously defending the litigation and
cooperating with the Commission in its inquiry. The Company does not believe
that these legal actions will have a material adverse effect on the Company or
its financial condition.
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Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GREAT WESTERN FINANCIAL CORPORATION
J. Lance Erikson
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By: J. Lance Erikson
Executive Vice President
DATED: December 6, 1995
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