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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 29, 1997
ACACIA RESEARCH CORPORATION
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(Exact name of registrant as specified in is charter)
California 0-26068 95-4405754
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
12 South Raymond Avenue, Pasadena, California 91105
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (818) 449-6431
(Former name or former address, If change since last report.)
Not applicable.
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Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On April 28, 1997, the Registrant changed its independent accountants
from Finocchiaro & Co. to Price Waterhouse LLP. This change was made because of
the developing complexity of the Registrant's financial statements and the
Registrants's status as a reporting company under the Securities Exchange Act of
1934.
Neither of the reports of Finocchiaro & Co. for the years ended
December 31, 1996 or 1995 contained an adverse opinion or a disclaimer of
opinion, or was qualified or modified as to uncertainty, audit scope, or
accounting principles.
The decision to change independent accountants was approved by the
Audit Committee of the Board of Directors, by delegated authority of the Board
of Directors of the Registrant.
Since January 1, 1995, there were no disagreements with Finocchiaro &
Co. on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, and none of the events set forth in
paragraphs (a)(1)(v)(A) through (D) of Item 304 of Regulation S-K occurred.
Since January 1, 1995, neither the Registrant nor anyone acting on its
behalf (i) has received from Price Waterhouse LLP either a written report or
oral advice relating to 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, which was an
important factor considered by the Registrant in reaching a decision as to the
accounting, auditing or financial reporting issue; or (ii) has consulted Price
Waterhouse LLP regarding any matter that was either the subject of a
disagreement (as defined in Item 304 (a)(1)(iv) of Regulation S-K and the
related instructions to that Item) or a reportable event (as described in Item
304(a)(1)(iv) of Regulation S-K).
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
16 Letter of Finocchiaro & Co.
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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.
ACACIA RESEARCH CORPORATION
/s/PAUL R. RYAN
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By: Paul R. Ryan
President and Chief Executive Officer
DATED: April 29, 1997
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EXHIBIT 16
April 29, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We have read item 4 of the current report on Form 8-K event date April 28, 1997
of Acacia Research Corporation and are in agreement with the statements
contained in the second and fourth paragraphs therein. We have no basis to
agree or disagree with other statements of the registrant contained therein.
/s/FINOCCHIARO & CO.
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