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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 Exchange Act of 1934
Date of Report (Date of earliest event reported): October 1, 1997
CITYSCAPE FINANCIAL CORP.
(Exact name of registrant as specified in its charter)
DELAWARE 0-27314 11-2994671
State or Other Jurisdiction Commission (IRS Employer
of Incorporation File Number Identification No.)
565 Taxter Road, Elmsford, New York 10523-5200
(Address of Principal Executive Offices) Zip Code
Registrant's telephone number, including area code: (914) 592-6677
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Former name or former address,
if changed since last report
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Item 5. Other Events.
Legal Proceedings.
On October 1, 1997, a class action was filed against Cityscape
Financial Corp. ("Cityscape") and two of its officers and directors in the
United States District Court for the Eastern District of New York on behalf of
all purchasers of Cityscape Common Stock during the period from April 1, 1997
through August 15, 1997 alleging violations of the federal securities laws in
connection with public filings and announcements made in 1997 concerning
Cityscape's loan and accounting policies and seeking to recover damages for all
members of the class. Cityscape believes that these allegations are entirely
without merit and that its disclosures were proper, complete and accurate.
Cityscape intends to vigorously defend against this lawsuit and seek its early
dismissal.
Cityscape Financial Corp. is a consumer finance company that, through
its wholly-owned subsidiaries, Cityscape Corp. and City Mortgage Corporation
Limited, is engaged in the business of originating, purchasing, selling and
servicing mortgage loans in the United States and the United Kingdom, secured
primarily by one- to four-family residences.
Cityscape was founded in 1985 and is headquartered in Elmsford, New
York with regional processing offices in California, Georgia, Illinois and
Virginia.
This report on Form 8-K contains forward-looking statements which
involve risks and uncertainties. The Company's actual results could differ
materially from those anticipated in these forward-looking statements as a
result of certain factors.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Current Report on Form 8-K to be
signed on its behalf by the undersigned hereunto duly authorized.
CITYSCAPE FINANCIAL CORP.
(Registrant)
By: /s/ Robert C. Patent
Name: Robert C. Patent
Title: Executive Vice President
Dated: October 9, 1997
