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EXHIBIT 16.2
[LETTERHEAD OF PRICEWATERHOUSECOOPERS GOES HERE]
July 6, 2000
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Daily Journal Corporation (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 report dated July 6, 2000. We
agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
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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): June 29, 2000
DAILY JOURNAL CORPORATION
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(Exact Name of Registrant as Specified in Charter)
South Carolina 0-14665 95-4133299
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(State or Other (Commission File (I.R.S. Employer
Jurisdiction of Number) Identification No.)
Incorporation)
355 South Grand Avenue, 34th Floor
Los Angeles, California 90071-1560
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (213) 624-7715
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Item 4. Changes in Registrant's Certifying Accountant
On June 29, 2000, the Registrant received confirmation that the client-
auditor relationship between the Registrant and its independent auditor,
PricewaterhouseCoopers LLP ("PwC"), has ceased as of June 29, 2000 due to PwC's
resignation.
The reports of PwC on the financial statements of the Registrant for the
Registrant's 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.
In connection with its audits for the two most recent fiscal years and
through the subsequent interim period, there have been no disagreements with PwC
on any matter of accounting principles or
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practices, financial statement disclosure, or auditing scope or procedure, which
disagreements if not resolved to the satisfaction of PwC would have caused them
to make reference thereto in their report on the Registrant's financial
statements for such years.
During the Registrant's two most recent fiscal years and through the
subsequent interim period, there have been no reportable events (as defined in
Regulation S-K Item 304(a)(1)(v)).
The Registrant has requested that PwC furnish it with a letter addressed to
the Securities and Exchange Commission ("SEC") stating whether or not it agrees
with the statements in this Item 4. A copy of such letter, dated July 6, 2000,
is filed as Exhibit 16.2 to this Form 8-K.
PwC's resignation was not recommended or approved by the Board of Directors
of the Registrant (the "Board"), or by the Board's Audit Committee.
ITEM 7. Financial Reports, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
16.1 Letter from PwC to the Registrant, dated June 29, 2000, confirming
the cessation of the client-auditor relationship between PwC and the
Registrant.
16.2 Letter from PwC to the SEC, dated July 6, 2000, confirming the
statements contained in Item 4 to this Form 8-K.
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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.
DAILY JOURNAL CORPORATION
By:
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Name: Gerald L. Salzman
Title: President
Dated: July 6, 2000
EXHIBIT INDEX
Exhibit Number Description
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16.1 Letter from PwC to the Registrant, dated June 29, 2000, confirming the
cessation of the client-auditor relationship between PwC and the
Registrant.
16.2 Letter from PwC to the SEC, dated July 6, 2000, confirming the
statements contained in Item 4 to this Form 8-K.
