DAIN RAUSCHER CORP
8-K, 1999-04-09
SECURITY BROKERS, DEALERS & FLOTATION COMPANIES
Previous: INSTRON CORP, 10-K405, 1999-04-09
Next: INTERNATIONAL PAPER CO /NEW/, 424B5, 1999-04-09





                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 9, 1999

                     DAIN RAUSCHER CORPORATION
      (Exact name of registrant as specified in its charter)


           Delaware                  1-8186           41-1228350
(State or other jurisdiction of   (Commission       (IRS Employer
incorporation of organization)    File Number)   Identification No.)

Dain Rauscher Plaza, 60 South Sixth Street	
      Minneapolis, Minnesota                      	55402-4422
(Address of principal executive offices)          	(Zip Code)

Registrant's telephone number, including area code:  (612) 371-2711

                         Not Applicable
 (Former name or former address, if changed since last report.)


Item 5.  OTHER EVENTS

  Reference is made to Exhibit 99.1 filed herewith.

Item 7.  FINANCIAL STATEMENTS AND EXHIBITS

  Exhibit 99.1 	Press release announcing registrant's settlement of litigation.


Pursuant to the requirements of the Securities Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.

Date:  April 9, 1999    DAIN RAUSCHER CORPORATION

                        By:  David J. Parrin
                             ------------------------------------
                             David J. Parrin
                             Senior Vice President and Controller


DAIN RAUSCHER CORPORATION
INDEX OF EXHIBITS

Exhibit No.
- -----------

    99.1     	Press release announcing registrant's settlement of litigation.





DAIN RAUSCHER SETTLES TWO LAWSUITS
RELATED TO MIDWEST LIFE, A FORMER SUBSIDIARY

MINNEAPOLIS (April 9, 1999) - Dain Rauscher Corporation (NYSE: DRC) has reached
agreements to settle two lawsuits brought against the firm in connection with
the 1991 failure of Midwest Life Insurance Company, a former Dain Rauscher
subsidiary which the company sold in 1986.  Under terms of the agreements,
Dain Rauscher will pay $15 million in cash and $6.6 million in interest-free
notes to settle its Colorado case, and $500,000 in cash to settle its Nebraska
case.
   In Colorado, the proceeds will be divided among approximately 200 Colorado
Midwest Life policyholders, the Colorado Life and Health Insurance Protection
Association and the plaintiffs' attorneys.  The Nebraska proceeds will go to
the Nebraska Life and Health Insurance Guaranty Association.  In both states,
guaranty associations (consortiums of insurance companies) reimbursed the
state's policyholders for losses of up to $100,000 each following Midwest
Life's insolvency.  These settlements resolve the last of the guaranty
association and policyholder lawsuits related to Midwest Life.
   The company stated that the payments, which have an aggregate present value
of $21.3 million, will have no impact on its 1999 earnings.
   Dain Rauscher Corporation, one of the nation's largest full-service
securities firms, serves individual investors through offices predominantly in
the western half of the United States, and capital markets and correspondent
clients in select markets throughout the nation.  Founded in 1909, the 
Minneapolis-based company has 1,300 private client and institutional investment
executives and a total of 3,600 employees.  The company's broker-dealer, Dain
Rauscher Incorporated, is a member of the New York Stock Exchange and other
major securities exchanges, as well as the Securities Investor Protection 
Corp.  The company's common stock trades on the NYSE under the symbol DRC. 
Its headquarters are at Dain Rauscher Plaza, 60 S. Sixth St., Minneapolis,
Minnesota, 55402-4422.
   Forward-Looking Statements: This press release includes forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995, which involve significant risks and uncertainties.  The company
cautions readers that a number of important factors may cause actual results 
to differ materially from those contained in forward-looking statements.  These
factors include, but are not limited to, the ability to resolve remaining
litigation in a satisfactory manner and the level of any future litigation.

# # #

CONTACT:  Jennifer Driscoll, investor and public relations, (612) 373-1647 or 
[email protected]




© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission