UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): May 26, 2000
RIVERSIDE GROUP, INC.
(Exact name of registrant as specified in its charter)
Florida 0-9209 59-1144172
(State of other (Commission File No.) (IRS Employer
jurisdiction of Identification
incorporation) number)
7800 Belfort Parkway, Jacksonville, Florida 32256
(Address of principal executive offices) (Zip Code)
904-281-2200
(Registrant's telephone number, including area code)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
(a)(1) Dismissal of previous independent accountants
(i) On May 26, 2000, the Company appointed Deloitte & Touche
LLP("Deloitte") as the Company's independent accountants
and dismissed PricewaterhouseCoopers LLP (PWC). Deloitte
will audit the Company's consolidated financial statements
for the year ended December 31, 2000.
(ii) The reports of PWC on the Company's consolidated financial
statements for the years ended December 31, 1999 and
December 31, 1998 contained no adverse opinion or
disclaimer of opinion and were not qualified or modified
as to uncertainty, audit scope or accounting principle
except such opinion was qualified as to "the Company has
suffered recurring losses from operations and has a net
capital deficiency that raise substantial doubt about its
ability to continue as a going concern".
(iii) The Company's Board of Directors participated in, and
approved the decision tochange independent accountants.
(iv) During the two most recent fiscal years and through May
26, 2000, there have been no disagreements with PWC
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 PWC would have caused PWC to make
reference thereto in their report on the financial
statements for such years.
(v) During the two most recent fiscal years and through May
26, 2000, there have been no reportable events (as defined
in Regulation S-K Items 304(a)(1)(v)).
(2) The Company engaged Deloitte as its new independent accountants on
May 26, 2000. During the two most recent fiscal years and through May 26, 2000,
the Company has not consulted with Deloitte 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 Company's
consolidated financial statements, and either a written report was provided to
the Company or oral advice was provided that Deloitte concluded was an important
factor considered by the Company 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.
(3) The Company has requested that PWC furnish it with a letter addressed
to the SEC stating whether or not it agrees with the above statements.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
NONE
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SIGNATURES
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.
RIVERSIDE GROUP, INC.
Date: May 31, 2000 By: /s/ Catherine J. Gray
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Catherine J. Gray
Senior Vice President
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