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: June 28, 2000
(Date of earliest event reported)
MEDISYS TECHNOLOGIES, INC.
(Exact name of Registrant as specified in charter)
Utah 0-21441 72-1216734
(State or other juris- (Commission (IRS Employer
diction of incorporation) File No.) Identification No.)
144 Napoleon Street, Baton Rouge, Louisiana 70802
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone no., including area code: (225) 343-8022
N/A
(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On March 16, 2000, Medisys Technologies, Inc. (the "Company")
filed a Complaint against Brett Phillips, Elbert Carl Anderson,
William H. Morris, Marilyn Morris and Barbara Larkins in the United
States District Court in and for the Middle District of Louisiana,
alleging various securities law violations and related claims in
connection with the 1998 acquisition by the Company from the
defendants of Phillips Pharmatech Labs, Inc. ("Phillips"). The
Company is seeking recission of the acquisition, damages and other
relief.
On May 9, 2000, E. Carl Anderson, William Morris and Brett
Phillips, filed a derivative action lawsuit in the United States
District Court, Middle District of Florida, case number
8:00CV905-T 24F, against the Company and the current directors of
the Company. The action was filed by Messrs. Anderson, Morris and
Phillips acting by and in behalf of the Company. The complaint
alleges corporate waste in the form of excessive salaries and
bonuses and other alleged wastes related to Phillips. The
complaint seeks injunctive relief and damages. Each of the
plaintiffs in this action is also a defendant in the lawsuit
previously filed by the Company referenced above.
On May 18, 2000, Phillips ceased all operations. In
connection with the Company's March 16, 2000 lawsuit, it filed with
the Third District Court, Salt Lake County, Utah, an action seeking
an injunction to prevent the sale and/or transfer of shares of the
Company's common stock by various defendants in the Company's suit
and other parties. On June 28, 2000, the Utah Court issued an
injunction and order enjoining from transfer approximately
13,500,000 shares of the Company's common stock. The Company
believes that it is vital to the success of its suit to prevent
certain persons from selling and/or transferring shares prior to
the resolution of the action. Pursuant to the Court's order, the
aforementioned shares are to be deemed "restricted securities" and
all certificates representing said share shall bear an appropriate
restrictive legend.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description Page No.
99.2 Injunction and Order issued on June 28,2000 Filed Herewith
By the Third District Court, Salt Lake County,
Utah
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 thereunto duly authorized.
MEDISYS TECHNOLOGIES, INC.
Dated: July 21, 2000 By: /s/ Kerry M. Frey
KERRY M. FREY, President and
Chief Operating Officer
INDEX TO EXHIBIT
Exhibit No. Description Page No.
99.2 Injunction and Order issued on June 28, 2000 Filed Herewith
By the Third District Court, Salt Lake County,
Utah
