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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: April 19, 2000
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The Fortress Group, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-28024 54-1774977
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1650 Tysons Boulevard, Suite 600, McLean, Virginia 22102
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone No., Including Area Code: (703) 442-4545
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Item 4 - Changes in Registrant's Certifying Accountant
(a)(1) Previous independent accountants
(i) On April 14, 2000 The Fortress Group, Inc. dismissed
PricewaterhouseCoopers LLP as its independent accountants.
(ii) The reports of PricewaterhouseCoopers LLP on the financial statements
for the past two fiscal years contained no adverse opinion or
disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principle.
(iii) The Registrant's Audit Committee recommended and Board of Directors
participated in and approved the decision to change independent
accountants.
(iv) In connection with its audits for the two most recent fiscal years and
through April 14, 2000, there have been no disagreements with
PricewaterhouseCoopers LLP on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedure, which disagreements if not resolved to the satisfaction of
PricewaterhouseCoopers LLP would have caused them to make reference
thereto in their report on the financial statements for such years.
(v) During the two most recent fiscal years and through April 14, 2000,
there have been no reportable events (as defined in Regulation S-K Item
304(a)(1)(v)).
(vi) The Registrant has requested that PricewaterhouseCoopers LLP furnish it
with a letter addressed to the SEC stating whether or not it agrees
with the above statements. A copy of such letter, dated April 14, 2000,
is filed as Exhibit 16 to the Form 8-K.
(a)(2) New independent accountants
(i) The Registrant engaged Ernst & Young LLP as its new independent
accountants as of April 14, 2000. During the two most recent fiscal
years and through April 14, 2000, the Registrant has not consulted with
Ernst & Young LLP regarding either (i) the application of accounting
principles to a specified transaction, either completed or proposed; or
the type of audit opinion that might be rendered on the Registrant's
financial statements, and either a written report was provided to the
Registrant or oral advice was provided that Ernst & Young LLP concluded
was an important factor considered by the Registrant in reaching a
decision as to the accounting, auditing or financial reporting issue:
or (ii) any matter that was either the subject of a disagreement, as
that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the
related instructions to Item 304 of Regulation S-K, or a reportable
event, as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
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Item 7 - Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
16 Letter from PricewaterhouseCoopers LLP dated April
14, 2000 regarding change in certifying accountant.
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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 thereunto duly authorized.
The Fortress Group, Inc.
Date: 4/19/00 By: /s/ George C. Yeonas
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George C. Yeonas
Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit
Number Description
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16 Letter from PricewaterhouseCoopers LLP dated
April 14, 2000 regarding change in certifying
accountant.
Exhibit 16
April 14, 2000
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549
Commissioners:
We have read the statements by The Fortress Group, Inc. (copy attached), which
we understand will be filed with the commission, pursuant to Item 4 of Form 8-K,
as part of the Company's Form 8-K dated April 14, 2000. We agree with the
statements concerning our Firm in such Form 8-K.
Very truly yours,
PricewaterhouseCoopers LLP
