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: January 20, 1998
LIFE USA HOLDING, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA 0-18485 41-1578384
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
Suite 95, Interchange North Building
300 South Highway 169
Minneapolis, MN 55426
(Address of principal executive offices)
(612) 546-7386
(Registrant's telephone number, including area code)
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Item 5. Other Events
In January 1998, six annuity policyholders commenced a lawsuit against the
Registrant. The action is styled on behalf of the plaintiffs and on behalf of a
class of policyholders who purchased annuity policies. The plaintiffs allege
that they and other annuity policyholders have been damaged due to certain
alleged misrepresentations and alleged inadequate disclosures. The case was
commenced in the United States Court for the Eastern District of Pennsylvania.
The Registrant expects to file a motion to transfer the case to the Minnesota
Federal Court and make other possibly dispositive motions. Although the
litigation is at an early stage, the Registrant believes the plaintiffs will not
be able to substantiate their claims and the Registrant has meritorious
defenses. The Registrant does not anticipate any material adverse financial
result.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Life USA Holding, Inc.
Date: January 20, 1998 By /s/ Mark A. Zesbaugh
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Mark A. Zesbaugh
Executive Vice President
Chief Financial Officer