FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 29549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 of 15(d) of the

Securities Exchange Act of 1934, as amended

Date of Report (Date of earliest event reported): ~~April~~August 2618, 2004

GIANT GROUP, LTD.

(Exact name of registrant as specified in its charter)

Delaware

1-4323

23-0622690

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)


9440 Santa Monica Blvd., Suite 407		90210
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (310) 273 5678

Item 52. ~~Other~~Acquisition ~~Events~~or ~~and~~Disposition ~~Regulation~~of ~~FD Disclosure~~Assets.

~~The~~Giant ~~trial~~has ~~date~~been ~~for~~made ~~the~~aware ~~commencement~~ of ~~the~~rumors ~~pending~~that ~~litigation~~it ~~between~~might ~~GIANT~~be asdeveloping ~~plaintiff~~land ~~and~~in ~~L.H. Friend~~Whitefish, ~~Gregory Presson and Robert Campbell (“LH Friend”) as~~Montana. ~~defendants~~Giant has ~~been~~no ~~rescheduled~~intention ~~from~~of ~~June~~doing ~~1, 2004 to September 1, 2004~~this. ~~The trial date was changed by the judge due to a scheduling conflict involving the attorney for LH Friend.~~

This lawsuit asserts causes of action for breach of contract, breach of fiduciary duty, constructive fraud and professional negligence arising from LH Friend’s services provided to the Company related to the acquisition of Periscope Sportswear, Inc. (“Periscope”) in December 1998. Periscope filed for bankruptcy protection in November 2000. The amount sought by GIANT in this lawsuit is approximately $35.2 million. Management is unable to predict the outcome of this legal action.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, ~~as amended,~~ the Registrant has duly caused this report to be signed on its behalf by the undersigned, who is duly authorized.

GIANT GROUP, LTD. (Registrant)
GIANT GROUP, LTD.
By:		/s/ Pasquale A. Ambrogio
(Registrant)
By		/s/ Pasquale A. Ambrogio
Name:		Pasquale A. Ambrogio
Title:		Chief Financial Officer
Dated:		~~April~~August 2618, 2004

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