UNITED STATES
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)
May 30, 2003
ASTA FUNDING, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-26906 22-3388607
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(Commission File Number) (IRS Employer Identification No.)
210 Sylvan Avenue, Englewood Cliffs, New Jersey 07632
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 201-567-5648
Item 5. Other Events and Regulation FD Disclosure.
On May 30, 2003, Stern Family Investors LLC and GMS Family Investors
LLC (the "LLCs"), two newly formed Delaware limited liability companies,
acquired 1,277,000 shares (31%) of the common stock of the Company from Arthur
Stern, Chairman of the Board of Directors of Asta Funding, Inc. (the "Company")
(200,000 shares), Gary Stern, President and Chief Executive Officer of the
Company and the son of Arthur Stern (700,000 shares) and other members of the
Stern family or trusts for the benefit of their issue. Judith R. Feder, a niece
of Arthur Stern and a cousin of Gary Stern, is the manager of each LLC and as
such has sole voting and investment power as to such shares. Each transfer was
made in exchange for an equitable interest in the applicable LLC.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ASTA FUNDING, INC.
Date: June 2, 2003 By: /s/ Mitchell Herman
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Mitchell Herman
Chief Financial Officer