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):
January 17, 1997
SPARTA SURGICAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-11047 22-2870438
(State or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) ID. Number)
Bernal Corporate Park
7068 Koll Center Parkway, Pleasanton, CA 94566
(Address of principal executive offices)
Registrant's telephone number, including area code (510)417-8812
not applicable
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On January 17, 1997, the Federal District Court for the Northern District
of California (the "Court") granted a motion brought by the National Association
of Securities Dealers, Inc. (the "NASD") to dismiss the Registrant's complaint
in the action entitled Sparta Surgical Corporation v. NASD, et al., Case No.
C95-3926MHP, which action arose from the NASD's mishandling of the Registrant's
secondary stock offering on March 21, 1995. The Registrant intends to appeal the
matter to the United States Court of Appeals for the Ninth Circuit. The
Registrant's counsel has identified two primary issues for appeal: (i) the
Court's earlier ruling that it had jurisdiction over the matter, which was
reached by recasting the Registrant's claim as federal, rather than state causes
of action; and (ii) the Court's granting of immunity to the NASD. The Registrant
intends to vigorously pursue this appeal.
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.
SPARTA SURGICAL CORPORATION
(Registrant)
By: Thomas F. Reiner
Thomas F. Reiner, Chairman of
the Board, President & CEO
Dated: January 29, 1997
