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): June 4, 1999
Continental Information Systems Corporation
(Exact Name of Registrant as Specified in Charter)
New York 025104 16-0956508
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Broadway Atrium, 45 Broadway, Suite 1105, New York, New York 10006-3007
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(Address of Principal Executive Offices and Zip Code)
Registrant's telephone number, including area code: (212) 771-1000
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events
On June 4, 1999, Continental Information Systems, Inc. (the "Company") settled
all litigation with Greg M. Cody and Charles C. Sinks, the former owners of the
Company's LaserAccess printing business. This litigation is described in Item 3
of the Company's Annual Report on Form 10K filed with the Securities and
Exchange Commission on August 25, 1998. In consideration of a cash payment, the
Company received a complete release of all claims against it and released all
claims against Messrs. Cody and Sinks. As a result, all litigation pending
between the parties will be dismissed with prejudice. The Company had previously
reserved amounts sufficient to cover the settlement payment, and it will have no
material impact on the Company's financial statements.
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 thereunto duly authorized.
CONTINENTAL INFORMATION SYSTEMS CORPORATION
By: /s/ Jonah M. Meer
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Jonah M. Meer
Senior Vice President,
Chief Operating Officer and
Chief Financial Officer
Dated: June 16, 1999