UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 3 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 16, 1999
FAB INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-5901 13-2581181
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
200 Madison Avenue, New York, New York 10016
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 592-2700
(Former name or former address, if changed since last report.)
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Item 4. Changes in Registrant's Certifying Accountant
(a) Previous independent accountants
(i) On November 16, 1999, Fab Industries, Inc. (the "Company")
dismissed BDO Seidman, LLP, as the Company's independent
auditors.
(ii) The reports of BDO Seidman, LLP on the Company's financial
statements for the two most recent fiscal years contained no
adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or
accounting principles.
(iii) The decision to change accountants was approved by the
Company's Board of Directors at a meeting on November 22,
1999.
(iv) In connection with the audits of the Company's financial
statements for the two most recent fiscal years and through
November 16, 1999, there have been no disagreements with BDO
Seidman, 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 BDO Seidman, LLP, would have caused it to make
reference thereto in its reports on the financial statements
for such fiscal years.
(v) During the two most recent fiscal years and through November
16, 1999, the Company was not advised of any of the matters
referred thereto in Item 304(a)(1)(v) of Regulation S-K.
(b) New independent accountants
(i) In addition, on November 16, 1999, the Company has appointed
Ernst & Young LLP as its new independent auditors.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
16 Copy of letter from BDO Seidman, LLP, dated November 23, 1999,
addressed to the Securities and Exchange Commission
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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 thereunto duly authorized.
By: /s/ Samson Bitensky
-----------------------------
Name: Samson Bitensky
Title: Chairman of the Board and
Chief Executive Officer
Date: November 23, 1999
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Exhibit 16
November 23, 1999
Securities and Exchange Commission 450 5th Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have been furnished with a copy of the response to Item 4 of Form 8-K for the
event that occurred on November 16, 1999, to be filed by Fab Industries, Inc. We
agree with the statements made in response to that Item insofar as they relate
to our Firm.
Very truly yours,
/s/ BDO Seidman, LLP
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