GREEN TREE FINANCIAL CORP
8-K, 1997-12-04
ASSET-BACKED SECURITIES
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<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


     Date of Report (Date of earliest event reported): December 3, 1997



                       GREEN TREE FINANCIAL CORPORATION
                       --------------------------------


         Delaware                       01-08916                  41-1807858
- --------------------------------------------------------------------------------
(State or other jurisdiction          (Commission               (IRS employer
     of incorporation)                file number)           identification No.)



 1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota  55102-1639
- --------------------------------------------------------------------------------
                   (Address of principal executive offices)


Registrant's telephone number, including area code:        (612) 293-3400
                                                     --------------------------


                                Not Applicable
- --------------------------------------------------------------------------------
         (Former name or former address, if changed since last report)
<PAGE>
 


Item 1.    Changes in Control of Registrant.
           -------------------------------- 

           Not applicable.

Item 2.    Acquisition or Disposition of Assets.
           ------------------------------------ 

           Not applicable.

Item 3.    Bankruptcy or Receivership.
           -------------------------  

           Not applicable.

Item 4.    Changes in Registrant's Certifying Accountant.
           ----------------------------------------------

           Not applicable.

Item 5.    Other Events.
           ------------ 

           Attached and incorporated herein by reference as Exhibit 99.1 is a
           press release dated December 3, 1997 of registrant, Green Tree
           Financial Corporation announcing that it is planning a vigorous
           defense against securities law complaint.

Item 6.    Resignations of Registrant's Directors.
           -------------------------------------- 

           Not applicable.

Item 7.    Financial Statements and Exhibits.
           --------------------------------- 

           (a) Financial statements of businesses acquired.

               Not applicable.

           (b) Pro forma financial information.

               Not applicable.

                                       2
<PAGE>
 
           (c) Exhibits.

               The following is filed herewith.  The exhibit numbers correspond
               with Item 601(b) of Regulation S-K.



               Exhibit No.      Description
               -----------      -----------

                  99.1          Press Release dated December 3, 1997, wherein
                                Green Tree Financial Corporation announces
                                that it is planning a vigorous defense
                                against securites law complaint.

     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.

                              GREEN TREE FINANCIAL CORPORATION


                                  /s/ Joel H. Gottesman
                              By: ________________________________
                                  Joel H. Gottesman
                                  Sr. Vice President, General Counsel 
                                  and Secretary

                                       3
<PAGE>
 
                               INDEX TO EXHIBITS



Exhibit Number                                                              Page
- --------------                                                              ----

     99.1   Press Release dated December 3, 1997 wherein Green Tree
            Financial Corporation announces that it is planning a 
            vigorous defense against securities law complaint.

                                       4

<PAGE>
 
                                                                  Exhibit 99.1

              [LETTERHEAD OF GREEN TREE FINANCIAL CORPORATION]
                                NEWS RELEASE


FOR IMMEDIATE RELEASE                                   CONTACT: John Dolphin
                                                                 Vice President
                                                                 (612)293-3400

               GREEN TREE FINANCIAL PLANNING VIGOROUS DEFENSE
                      AGAINST SECURITIES LAW COMPLAINT

     SAINT PAUL, MINN., December 3, 1997 -- Green Tree Financial Corporation
(NYSE:GNT) announced today that it has received a copy of a securities law
complaint filed in U.S. District Court on December 2, 1997. The complaint
alleges that Green Tree and certain of its officers omitted or misrepresented
material facts about the business and financial condition of the Company
violating federal securities laws and seeks class action status.

     Green Tree has reviewed the complaint and believes the allegations to be
without merit. The complaint does not state a claim for securities law
violations, but consists merely of speculation through hindsight concerning
estimates and assumptions required to be made by the Company in the
preparation of its financial statements. Green Tree believes strongly that its
financial statements have been prepared with integrity and in full compliance
with the relevant legal and accounting requirements, and have included
consistent public disclosure of the required use of estimates and assumptions.
The Company plans a vigorous defense against the lawsuit.

     Green Tree Financial Corporation is a leading diversified financial 
services company with nationwide operations serving customers in the consumer 
finance, commercial finance and insurance markets. With managed finance 
receivables of $26 billion, Green Tree is one of the largest multi-line 
finance companies in the United States. Founded in 1975, Green Tree has 
approximately 5,000 employees at 200 company locations that work with nearly 
20,000 retail dealers across the country as well as directly with consumers.


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