Daily Journal Corp. exposes Buxton Helmsley's threats, refers CEO to authorities

DAILY JOURNAL CORP

Buxton Helmsley USA, Inc. and CEO Alexander Parker sent 13 letters/emails since Dec. 13, threatening proxy contest unless Company enters cooperation agreement.
Parker demanded 15 cents per dollar of stock appreciation (estimated $24 million) and two board seats; Company says he held only one share.
Company referred Buxton Helmsley and Parker to federal and state authorities for criminal prosecution consideration and to SEC for civil charges.
Parker threatened director John Frank with a State Bar of California disciplinary referral unless he agreed to fire the CEO; Board unanimously rejected demands.
Company stands by software cost accounting (ASC 985-20) and notes CFO Tu To is retiring after 42 years, with no connection to Parker's allegations.

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