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
Date of Report (Date of earliest event reported): Filing: July 26,
1996 (Event: July 22, 1996)
Maxtor Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-14016 77-0123732
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
510 Cottonwood Drive, Milpitas, CA 95035
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 432-1700
211 River Oaks Parkway, San Jose, CA
(Former name or former address, if changed since last report)
ITEM 4. Change in Registrant's Certifying Accountant
Effective January 11, 1996 the Registrant became a wholly owned
subsidiary of Hyundai Electronics America ("HEA"). As a result of
the transaction, the Board of Directors of the Registrant resolved
on July 22, 1996 that Coopers and Lybrand L.L.P., the principal
independent accountant of HEA, be appointed as the principle
independent accountant of the registrant for the year ending
December 28, 1996, replacing Ernst & Young LLP.
The reports of Ernst & Young LLP on the financial statements of
the registrant for the two years ended March 30, 1996 and March
25, 1995 did not contain an adverse opinion or a disclaimer of
opinion and were not qualified or modified as to uncertainty,
audit scope, or accounting principles.
In connection with the audits by Ernst & Young LLP of the two most
recent fiscal years of the registrant ended March 30, 1996 and
March 25, 1995, there were no disagreements between the registrant
and Ernst & Young LLP on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedures, which, if not resolved to the satisfaction of Ernst &
Young LLP, would have caused them to make reference to the matter
in their report. Ernst & Young LLP has not audited any interim
period of the registrant subsequent to March 30, 1996.
The Company has requested Ernst & Young LLP to furnish a letter
addressed to the Securities and Exchange Commission stating
whether it agrees with the above statements. A copy of that
letter, dated July 26, 1996, is filed as an exhibit to this Form 8-K.
ITEM 8. Change in Fiscal Year
On July 22, 1996, the Registrant resolved to change its fiscal
year end to be consistent with the year end of the Registrant's
parent, Hyundai Electronics America ("HEA"). The fiscal year end
will change from the last Saturday of March, the date used in the
Registrant's most recent filing with the Securities and Exchange
Commission, to the last Saturday of December conforming to its
52/53-week year methodology. For calendar year 1996, the fiscal
year will end on December 28.
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.
Maxtor Corporation
By: /s/ Nate Kawaye
Nathan Kawaye
Vice President, Finance, and
Chief Financial Officer
Dated: July 26, 1996
July 26, 1996
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of Form 8-K dated July 26, 1996 of Maxtor
Corporation and are in agreement with the statements contained in
the second, third, and fourth paragraphs therein. We have no
basis to agree or disagree with other statements of the
registrant contained therein.
ERNST & YOUNG LLP
