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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 and Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): September 9, 1997
RMS TITANIC, INC.
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(Exact name of Registrant as specified in charter)
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Florida 000-24452 59-2753162
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(State of other juris- (Commission (IRS Employer
diction of incorporation) File No.) Identification No.)
17 Battery Place, Suite 203
New York, New York 10004
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 558-6300
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Items 5
On September 9, 1997, William S. Gasparrini commenced an action against
George Tulloch, Oceanic Research and Exploration Limited ("ORE") and Titanic
Ventures Limited Partnership ("TVLP") in the Superior Court of Connecticut,
Judicial District of Stamford/Norwalk. The complaint alleges two causes of
action for breach of purported contracts entered into on April 21, 1995 and
June 12, 1996 which allegedly required TVLP (which is a principal shareholder
of the registrant), ORE (which is the general partner of TVLP) and Mr. Tulloch,
who is the President of ORE, to dissolve TVLP and distribute shares of the
registrant owned by TVLP to the partners of TVLP. The relief sought is an order
directing compliance with such purported agreements, unspecified monetary
damages, and intrest and costs. Mr. Tulloch, on behalf of ORE and TVLP,
believes that there are meritous defenses to these claims and intends to defend
their position vigorously.
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 thereunto duly authorized.
RMS TITANIC, INC.
Dated: September 23, 1997 /s/ George Tulloch
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George Tulloch
President and Principal Executive Officer
