Yes, this is a JAWS ripoff, but in the right state of mind this movie is pretty funny.
A huge shark starts attacking people in the waters surrounding a small coastal city right before their big windsurfing competition. People get eaten and lots of stock footage of clearly different types of sharks is shown until finally the townsfolk have had enough and guy with a helicopter goes out to catch the shark (he doesn't), next a diver with dynamite goes looking for the shark and the shark chases him into a cave and then smashes the rocks until it closes up the entrance (wow!), some teenagers go looking for the shark with a rifle and one of 'em comes back minus a leg (that scene was actually shocking), a overzealous TV reporter chains a giant hunk of meat to a dock and the dock gets pulled out to sea along with a bunch of people and in another great scene a guy is in a boat when it gets hit by the shark and the boat and the very stiff dummy goes flying 15 feet in the air! (see picture below)
No nudity, but plenty of ridiculous shark action to keep you giggling from beginning to end. If you can find a copy check it out.
I don't understand why Steven Spielberg had to be a sore sport and sue the makers of this film. Yes it had a lot of similarities to JAWS, but the film is so goddamn shitty that now I want to watch JAWS again just to see a good shark film. That's actually a great idea...I'll try and review the JAWS series soon!
Best scene in the movie: