<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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
April 6, 2000
Date of Report (Date of earliest event reported)
------------------------
LOUISIANA-PACIFIC CORPORATION
(Exact name of registrant as specified in its charter)
-----------------------
Delaware 1-7107 93-0609074
(State of incorporation) (Commission file number) (IRS employer
identification number)
-----------------------
111 S.W. Fifth Avenue, Portland, Oregon 97204
(Address of principal executive offices, including zip code)
(503) 221-0800
(Registrant's telephone number, including area code)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
Item 5. OTHER EVENTS.
The following discussion updates, and should be read in conjunction with,
the discussion of the nationwide OSB class action siding litigation of
Louisiana-Pacific ("L-P") set forth in Item 3, Legal Proceedings, of L-P's
annual report on Form 10-K for the year ended December 31, 1999 (the "1999 Form
10-K") under the subheading "OSB Siding Matters."
As reported in the 1999 Form 10-K, the estimated cumulative total of
approved claims under the nationwide OSB class action settlement agreement
exceeded the sum of L-P's historical mandatory and optional contributions and
remaining mandatory contributions to the settlement fund by approximately
$322 million at December 31, 1999. In addition, there were approximately
11,000 claims that had been filed but not yet processed at December 31, 1999.
At March 31, 2000, the estimated cumulative total of approved claims under
the settlement agreement exceeded the sum of L-P's historical mandatory and
optional contributions and remaining mandatory contributions to the settlement
fund by approximately $375 million. Claims accounting for approximately $341
million of this excess are eligible for participation in the $125 million second
settlement fund, which represents an alternative source of payment for such
claims. In addition, there were approximately 700 claims that had been filed
that were potentially eligible for participation in the second settlement fund
but that had not yet been processed at March 31, 2000. In general, only claims
filed (or postmarked for filing) on or prior to December 31, 1999 are eligible
for participation in the second settlement fund. Between January 1 and March 31,
2000, approximately 3,000 new claims were filed.
Holders of claims who are eligible to participate in the second settlement
fund will be offered a pro rata portion (based upon the amount of their
eligible claims in relation to the total amount of all eligible claims) of
$125 million in complete satisfaction of their claims, which they may accept
or reject in favor of remaining under the original settlement. If L-P
proceeds with the second settlement fund, eligible claimants who accept their
pro rata share of the second settlement fund may not file additional claims
under the settlement or arbitrate the amount of their payments. Holders of
claims who are eligible to participate in the second settlement fund but who
elect not to participate in the second settlement fund will remain bound by
the terms of the original settlement. L-P intends to make its decision as to
whether to proceed with the second settlement fund based on the magnitude of
the claims eligible to participate in the second settlement fund. If L-P
decides to proceed, payments under the second settlement fund could commence
as early as May 2000.
Based upon the payments that L-P has made or committed to make, the
original settlement will continue in effect until at least August 2003. Unless
L-P elects, prior to August 2003, to pay the remaining unpaid claims made under
the original settlement in installments due in 2004 and 2005, the settlement
will terminate with respect to such unpaid claims and all unpaid claimants will
be free to pursue their individual remedies from and after August 2003. Because
eligible claimants who elect not to participate in the second settlement fund
will not be eligible to receive payment under the original settlement prior to
August 2004 and will be subject to the risk of the original settlement
terminating, L-P believes that eligible claimants will have a substantial
incentive to elect to participate in the second settlement fund.
1
<PAGE>
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.
LOUISIANA-PACIFIC CORPORATION
By: /s/ Gary C. Wilkerson
-------------------------------
Gary C. Wilkerson
Vice President and General Counsel
Date: April 6, 2000
2
