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

                                  ------------


                         March 19, 1999 (March 18, 1999)
               (Date of Report (date of earliest event reported))


                               Cendant Corporation
             (Exact name of Registrant as specified in its charter)

        Delaware                    1-10308                      06-0918165
(State or other jurisdiction  (Commission File No.)          (I.R.S. Employer
  of incorporation or                                     Identification Number)
     organization)

 9 West 57th Street
    New York, NY                                                   10019
(Address of principal                                           (Zip Code)
  executive office)
     


                                 (212) 413-1800
              (Registrant's telephone number, including area code)



                                      None
       (Former name, former address and former fiscal year, if applicable)














                                                                   8

Item 5.  Other Events


Settlement of PRIDES Class Action Litigation

         On March 17,  1999,  we  announced  that we reached a final  settlement
agreement  with  plaintiff's  counsel  representing  the class of holders of our
PRIDES  securities who purchased their  securities on or prior to April 15, 1998
("eligible  persons") to settle their class action lawsuit against us. Under the
final  settlement  agreement,  eligible  persons will receive a new security - a
Right - for each PRIDES  security  held on April 15,  1998.  Current  holders of
PRIDES will not receive  any Rights  (unless  they also held PRIDES on April 15,
1998).  We had  originally  announced a  preliminary  agreement  in principle to
settle such lawsuit on January 7, 1999. The final agreement maintained the basic
structure and accounting treatment as the preliminary agreement.

         Based on the settlement  agreement,  we recorded an after tax charge of
approximately  $228 million,  or $0.26 per share,  ($351 million pre-tax) in the
fourth quarter of 1998 associated with the preliminary agreement in principle to
settle the PRIDES securities class action. We recorded an increase in additional
paid-in  capital of $350  million  offset by a decrease in retained  earnings of
$228 million resulting in a net increase in stockholders' equity of $122 million
as a  result  of the  prospective  issuance  of the  Rights.  As a  result,  the
potential  settlement  should not reduce net book  value.  In addition it is not
expected  to reduce  1999  earnings  per share  unless  our common  stock  price
materially appreciates.

         At any time during the life of the Rights, holders may (a) sell them or
(b) exercise them by  delivering to us three Rights  together with two PRIDES in
exchange for two new PRIDES (the "New PRIDES"). The terms of the New PRIDES will
be the same as the currently outstanding PRIDES, except that the conversion rate
will be revised so that, at the time the Rights are distributed, each New PRIDES
will have a value equal to $17.57 more than each original  PRIDES,  based upon a
generally  accepted  valuation model.  Based upon the closing price per share of
$16.6875 of our Common  Stock on March 17,  1999,  the effect of the issuance of
the New PRIDES will be to distribute approximately 19 million more shares of our
common stock when the mandatory purchase of our common stock associated with the
PRIDES occurs in February of 2001. This represents  approximately 2% more shares
of common stock than are currently outstanding.

         The  settlement  agreement  also requires us to offer to sell 4 million
additional PRIDES (having identical terms to currently  outstanding PRIDES) (the
"Additional  PRIDES")  at  "theoretical  value" to  holders  of Rights for cash.
Theoretical  value will be based on the same valuation model utilized to set the
conversion rate of the New PRIDES.  Based on that valuation model, the currently
outstanding PRIDES have a theoretical value of $28.07 based on the closing price
for our common stock on March 17, 1999, which is less than their current trading
price.  The  offering  of  Additional  PRIDES  will be made only  pursuant  to a
prospectus  filed with the SEC. We currently  expect to use the proceeds of such
an offering  to  repurchase  our common  stock and for other  general  corporate
purposes.  The arrangement to offer Additional PRIDES is designed to enhance the
trading value of the Rights by removing up to 6 million Rights from  circulation
via  exchanges  associated  with the  offering  and to enhance  the open  market
liquidity  of New  PRIDES  by  creating  4  million  New  PRIDES  via  exchanges
associated  with the  offering.  If  holders of Rights do not  acquire  all such
PRIDES, they will be offered to the public.

         Under the  settlement  agreement,  we have also  agreed to file a shelf
registration  statement  for an  additional  15 million  PRIDES,  which could be
issued by us at any time for cash. However, during the last 30 days prior to the
expiration  of the Rights in  February  2001,  we will be required to make these
additional  PRIDES  available  to  holders of Rights at a price in cash equal to
105% of the theoretical  value of the additional  PRIDES as of a specified date.
The PRIDES,  if issued,  would have the same terms as the currently  outstanding
PRIDES and could be used to exercise Rights.

         The Rights will be distributed following  final  court  approval of the
settlement and after the effectiveness of the registration statement filed  with
the SEC  covering  the New  PRIDES.  It is presently  expected that if the court
approves  the settlement and such  conditions are fulfilled,  the Rights will be
distributed in August or September 1999. This summary of the settlement does not
constitute an offer to sell any  securities, which will only be made by means of
a prospectus after a registration  statement is filed with the SEC. There can be
no assurance  that the court will approve the  agreement or that the  conditions
contained in the agreement will be fulfilled.

         Reference  is made  to the press  release dated March 18, 1999 attached
hereto as Exhibit 99.1 which is incorporated herein by reference in its
entirety.


Item 7.  Exhibits

Exhibit
   No.            Description
- --------          --------------------------------------------------------------

99.1              Press release:  Cendant Finalizes  Settlement  Agreement in
                  PRIDES Securities Class Action Suit, dated March 18, 1999.






                                    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 hereunto duly authorized.

                                    CENDANT CORPORATION



                                    By:   /s/  James E. Buckman
                                          James E. Buckman
                                          Vice Chairman and
                                          General Counsel


Date:  March 18, 1999






                               CENDANT CORPORATION
                           CURRENT REPORT ON FORM 8-K
                  Report Dated March 19, 1999 (March 18, 1999)



                                 EXHIBIT INDEX


Exhibit
   No.            Description
- -------           --------------------------------------------------------------

99.1              Press release:  Cendant Finalizes  Settlement  Agreement in 
                  PRIDES Securities Class Action Suit, dated March 18, 1999.





EXHIBIT 99.1


                     CENDANT FINALIZES SETTLEMENT AGREEMENT
                     IN PRIDES SECURITIES CLASS ACTION SUIT

    No Change in Previously Reported $351 Million 1998 Fourth Quarter Charge

              Agreement Modified to Enhance Trading Value of Rights


         NEW  YORK,  NY -  March  18,  1999 -  Cendant  Corporation  (NYSE:  CD)
announced  today that  Cendant and lead counsel for a class of holders of PRIDES
securities,  who purchased their  securities on or prior to April 15, 1998, have
signed a final non-cash settlement  agreement.  Cendant and the lead counsel had
announced  a  preliminary  agreement  in  principle  on  January  7,  1999.  The
Stipulation  and  Agreement of  Compromise  and  Settlement,  now signed by both
parties, maintains the basic structure of the preliminary agreement in principle
while adding four major  features  designed to enhance the trading  value of the
Rights securities.

         This press release only  contains a summary of the agreement  announced
today.   Interested  parties  should  review  the  forthcoming  notice  and  the
Stipulation   and  Agreement  of  Compromise   and  Settlement  for  a  complete
description of the terms of the settlement.

         Based on the agreement announced today,  Cendant will make no change in
its previously reported after tax charge of approximately $228 million, or $0.26
per share,  ($351 million  pretax),  recorded in the fourth quarter of 1998. The
Company's Shareholders' Equity as of December 31, 1998, reflected an increase in
additional  paid-in  capital  of $350  million  as a result  of the  prospective
issuance of the Rights,  offset by a $228 million reduction in retained earnings
from the  charge.  As a result,  the  agreement  finalized  today has  increased
Cendant's  Shareholders'  Equity to date.  In addition,  the  settlement  is not
expected to impact  1999  earnings  per share  unless the stock price of Cendant
common stock materially appreciates.

         The effect of this non-cash  settlement  will be to  distribute,  based
upon  current  market  prices,  approximately  19 million more shares of Cendant
common stock when the mandatory purchase of Cendant common stock associated with
the PRIDES occurs in February of 2001.  This  represents  approximately  2% more
shares than are currently outstanding.

         Under the agreement  announced  today,  eligible persons will receive a
new  security  - a Right - for each  PRIDES  security  held on April  15,  1998.
Current  holders of PRIDES will not receive  any Rights  (unless  they also held
PRIDES on April 15,  1998).  Application  will be made to list the Rights on the
New York Stock  Exchange.  The Rights will be freely  tradable  from the date of
distribution to their expiration. In the preliminary agreement announced January
7, it was  anticipated  that the Rights  would  expire 60 days after the date of
distribution.  The  agreement  announced  today  extends the lives of the Rights
until  February 14, 2001,  which is two days prior to the date for the mandatory
purchase of common stock associated with the PRIDES.

         At any time during the life of the Rights, holders may (a) sell them or
(b)  exercise  them by  delivering  to Cendant  three Rights  together  with two
PRIDES.  Exercising  Right  holders will receive in exchange two new PRIDES (New
PRIDES). Under the preliminary agreement announced January 7, Right holders were
able to exchange one Right and one PRIDES for one New PRIDES.  The revised ratio
(3 for 2) is  designed  to make the  value of  Rights  less  dependent  upon the
availability of PRIDES in the open market.

         The  terms  of the  New  PRIDES  will  be  the  same  as the  currently
outstanding PRIDES,  except that the conversion rate will be revised so that, at
the time the Rights are distributed,  each New PRIDES will have a value equal to
$17.57 more than each original PRIDES, based upon a generally accepted valuation
model.  This  means  that the  number of shares of  Cendant  common  stock to be
received upon the mandatory  purchase of common stock associated with the PRIDES
in February 2001 will be increased so as to initially increase the PRIDES' value
by $17.57.  The exact  change in the  conversion  rate  required  to produce the
targeted value will be determined  based on an agreed upon valuation  formula at
the time the Rights are  distributed.  Since  three  Rights  will be required to
revise the terms of two PRIDES, each Right will therefore have a stated value of
$11.71 per Right, or approximately $341.5 million in the aggregate.

         The agreement  announced  today also requires  Cendant to offer to sell
four million additional PRIDES (having identical terms to currently  outstanding
PRIDES) at "theoretical value" to holders of Rights for cash.  Theoretical value
will be based on the same valuation model utilized to set the conversion rate of
the New PRIDES.

         Based on that valuation model, the currently  outstanding Income PRIDES
have a  theoretical  value of  $28.07  based on  yesterday's  closing  price for
Cendant common stock, which is less than their current trading price.

         The offering of the additional  PRIDES will occur within 60 days of the
distribution  of the  Rights,  and  participating  Right  holders  must agree to
exercise  their Rights and exchange all PRIDES  acquired in the offering for New
PRIDES.  The  offering  of  additional  PRIDES  will be made only  pursuant to a
prospectus filed with the Securities and Exchange Commission.  Cendant currently
expects to use the proceeds of such an offering to  repurchase  common stock and
for other  general  corporate  purposes.  The  arrangement  to offer  additional
PRIDES, which was not contemplated in the preliminary agreement,  is designed to
enhance the trading value of the Rights by removing up to 6 million  Rights from
circulation via exchanges  associated with the offering.  It is also designed to
enhance the open market liquidity of New PRIDES by creating 4 million New PRIDES
via exchanges associated with the offering.  If holders of Rights do not acquire
all such PRIDES, they will be offered to the public.

         Under the agreement announced today,  Cendant has also agreed to file a
shelf registration statement for an additional 15 million PRIDES, which could be
issued by it at any time for cash. These PRIDES, if issued,  would have the same
terms as the currently  outstanding PRIDES and could be used to exercise Rights.
During the last 30 days prior to the  expiration of the Rights in February 2001,
Cendant will be required to make these additional PRIDES available to holders of
Rights  at a  price  in cash  equal  to 105%  of the  theoretical  value  of the
additional PRIDES as of a specified date. These provisions,  which were also not
included in the preliminary settlement agreement,  are intended to assure Rights
holders that the Rights will not expire unexercised  because of any inability to
obtain PRIDES on the open market.

         The Rights will be  distributed  following  final court approval of the
settlement and after the effectiveness of the registration  statement filed with
the  Securities  and Exchange  Commission  covering  the New PRIDES.  This press
release does not constitute an offer to sell New PRIDES, which will only be made
by  means of a  prospectus  after a  registration  statement  is filed  with the
Securities  and Exchange  Commission.  There can be no assurance  that the court
will approve the  agreement or that the  conditions  contained in the  agreement
will be fulfilled.

         It is presently  expected that if the court approves the settlement and
such  conditions  are  fulfilled,  the Rights will be  distributed  in August or
September 1999.

         Questions  concerning the terms of the settlement  agreement  should be
directed to Plaintiff's counsel:  Kirby, McInerney & Squire LLP, 830 Third Ave.,
10th Fl., New York, NY 10011, Attn: Barrett Godsey,  Paralegal,  212-317-2300 or
800-529-4787, Email:
kms@kmslaw.com.

         Cendant  Corporation  is a global  provider  of consumer  and  business
services.  The company  operates in four  principal  divisions:  travel  related
services, real estate related services,  alliance marketing related services and
other consumer and business services. In travel related services, Cendant is the
leading  franchiser  of hotels and rental car  agencies  worldwide;  the largest
provider of vacation exchange services;  and a leading fleet management company.
In real estate related  services,  Cendant is the world's largest  franchiser of
residential real estate brokerage offices, a major provider of mortgage services
to consumers and a global leader in corporate employee  relocation.  In alliance
marketing  related  services,  Cendant  provides  access to  insurance,  travel,
shopping,  auto,  and other  services,  primarily  through  direct  marketing to
customers of its affinity partners. Other consumer and business services include
Jackson Hewitt,  a leading tax preparation  service  franchise system in the US;
NPC,  the UK's  largest  private car park  operator;  and green flag,  a leading
motorist assistance group in the UK.  Headquartered in New York, NY, the company
has more than 35,000 employees and operates in over 100 countries.

Media Contact:                                       Investor Contacts:
Elliot Bloom                                         Denise Gillen
212-413-1832                                         212-413-1833

                                                     Sam Levenson
                                                     212-413-1834