SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): March 9, 1998
Consolidated Technology Group Ltd.
(Exact name of Registrant as Specified in its Charter)
Delaware 0-4186 13-1948169
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
160 Broadway, Suite 901, New York, New York 10038
(Address of Principal Executive Office)
Registrant's telephone number, including area code: (212) 233-4500
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Item 5. Other Events.
On March 9, 1998, the United States District Court for the Southern
District of New York vacated the temporary restraining order issued on February
24, 1998, in the action (the "Action") captioned Grino Corporation, LLC and
SMACS Holding Corp., individually and as shareholders of and in the right of
Consolidated Technology Group Ltd. v. Consolidated Technology Group Ltd., SIS
Capital Corp., Lewis S. Schiller, Norman J. Hoskin, E. Gerald Kay and Grazyna B.
Wnuk. The Action is described in the Form 8-K of Consolidated Technology Group
Ltd. having a Date of Report of February 23, 1998.
The Court vacated the temporary restraining order because, inter alia,
it did not appear that the plaintiffs had a likelihood of success in the
ultimate action, particularly with respect to the alleged 10b-5 claim.
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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 hereunto duly authorized.
CONSOLIDATED TECHNOLOGY GROUP LTD.
By:/S/_________________________________
Date: March 10, 1998 Lewis S. Schiller
-------------- Chairman and Chief Executive Officer
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