-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SCKDYqB8nPmtksrCHN2Q+nD3jJ4hRp4gFh4Qw1Fhl/mc7W/ze3wZE52s5TTz1Zmx pzekodiHEH0MY8k3wa7nfQ== 0000944209-98-000057.txt : 19980113 0000944209-98-000057.hdr.sgml : 19980113 ACCESSION NUMBER: 0000944209-98-000057 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980112 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CHEROKEE INC CENTRAL INDEX KEY: 0000844161 STANDARD INDUSTRIAL CLASSIFICATION: WOMEN'S, MISSES', AND JUNIORS OUTERWEAR [2330] IRS NUMBER: 954182437 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-41754 FILM NUMBER: 98504371 BUSINESS ADDRESS: STREET 1: 6835 VALJEAN AVE CITY: VAN NUYS STATE: CA ZIP: 91406-4713 BUSINESS PHONE: 8189511002 MAIL ADDRESS: STREET 1: 6835 VALJEAN AVE CITY: VAN NUYS STATE: CA ZIP: 91406-4713 FORMER COMPANY: FORMER CONFORMED NAME: GREEN ACQUISITION CO DATE OF NAME CHANGE: 19900814 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NEWSTAR GROUP INC CENTRAL INDEX KEY: 0001018378 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 954465538 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 6835 VALJEAN AVE CITY: VAN NUYS STATE: CA ZIP: 91406 BUSINESS PHONE: 8189089899X300 MAIL ADDRESS: STREET 1: 6835 VALJEAN AVE CITY: VAN NUYS STATE: CA ZIP: 91406 SC 13D/A 1 SCHEDULE 13D AMENDMENT NO. 2 (NEWSTAR) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 2)* CHEROKEE, INC. -------------- (Name of Issuer) COMMON STOCK, NO PAR VALUE --------------------------- (Title of Class of Securities) 16444H102 (CUSIP Number) Ronald P. Givner, Esq., c/o Jeffer, Mangels, Butler & Marmaro LLP, 2121 Avenue of the Stars, 10th Floor, Los Angeles, California 90067, (310) 203-8080 --------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 20, 1997 ------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [_]. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that Section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 - ----------------------- --------------------- CUSIP No. 16444H102 SCHEDULE 13D - ----------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) THE NEWSTAR GROUP, INC. DBA THE WILSTAR GROUP - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 NOT APPLICABLE - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 U.S.A. - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 1,103,427 SHARES OF COMMON STOCK SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 -0- OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 1,103,427 SHARES OF COMMON STOCK PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 -0- - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 1,103,427 SHARES OF COMMON STOCK - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 12.8% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 CO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! 2 The purpose of this Amendment No. 2 to Schedule 13D is to report the exercise of an option held by The Newstar Group, Inc. d/b/a The Wilstar Group ("Wilstar"), a California corporation of shares of the Common Stock of Cherokee, Inc. ("Company"). ITEM 1. SECURITY AND ISSUER Securities: Common Stock, $.02 par value ("Common Stock"). Issuer: Cherokee, Inc. 6835 Valjean Avenue Van Nuys, California 91406 ITEM 2. IDENTITY AND BACKGROUND Information as to Newstar Name: The Newstar Group, Inc. State of Incorporation: California Address: 6835 Valjean Avenue Van Nuys, California 91406 Information as to Directors, Officers and Controlling Persons of Newstar Robert Margolis Chief Executive Officer, Director The Newstar Group, Inc. 6835 Valjean Avenue Van Nuys, California 91406 United States citizen Chief Executive Officer, Chairman, Member of the Board of Directors Cherokee Inc. 6835 Valjean Avenue Van Nuys, California 91406 United States citizen (d) No person or entity listed above has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) No person or entity listed above has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state 3 securities laws or finding any violation with respect to such judgment, decree or final order. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Not Applicable. ITEM 4. PURPOSE OF THE TRANSACTION See Item 5. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER On December 20, 1997, Wilstar transferred 17,500 shares of Cherokee, Inc. to certain of its employees. On December 29, 1997, Wilstar exercised for $3.00 per share an existing option granted by Cherokee, Inc. for 675,670 shares of the Common Stock of Cherokee, Inc. The aforementioned transaction did not change Wilstar's aggregate beneficial ownership of the shares it beneficially owned in Cherokee, Inc., since the shares underlying such option was already included in such beneficial ownership. On December 30, 1997, Wilstar transferred 354,743 shares of the Common Stock of Cherokee, Inc. to five former shareholders of Wilstar as partial consideration for the redemption by Wilstar of all the outstanding shares of Wilstar held by such former shareholders. Prior to such redemptions, which were effective as of June 1, 1997, such former shareholders held 49.83% of the economic interests in Wilstar and the redemptions represent a distribution to them of their indirect economic ownership in the Cherokee, Inc. shares held by Wilstar. Wilstar currently beneficially owns 1,103,427 shares or 12.8% of the outstanding Common Stock of Cherokee, Inc. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUE. Not applicable. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS a. The May 4, 1995 Revised Option Agreement between Wilstar and the Company, as amended on March 23, 1996, is attached as Exhibit "B" to the original Schedule 13D. (Previously filed with Amendment No. 1.) 4 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. January 9, 1998 THE NEWSTAR GROUP, INC. By: /s/ Robert Margolis --------------------------------------- Robert Margolis, President 5 -----END PRIVACY-ENHANCED MESSAGE-----