- Current report filing (8-K)
August 16 2010 - 7:01AM
Edgar (US Regulatory)
UNITED STATES
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
AUGUST 11, 2010
Date of Report (Date of
earliest event reported)
SATCON TECHNOLOGY
CORPORATION
(Exact Name of Registrant as
Specified in Charter)
DELAWARE
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1-11512
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04-2857552
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(State or Other
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(Commission File Number)
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(IRS Employer
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Jurisdiction of Incorporation)
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Identification No.)
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27 Drydock Avenue
Boston, Massachusetts
02210-2377
(Address of Principal Executive Offices) (Zip Code)
(617) 897-2400
(Registrants telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (
see
General
Instruction A.2. below):
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item 4.01 Changes
in Registrants Certifying Accountant.
McGladrey &
Pullen, LLP recently acquired the assets of Caturano and Company, Inc. (Caturano),
the independent registered public accounting firm for Satcon Technology
Corporation (the Company). As a
result, on August 11, 2010, Caturano resigned as the independent
registered public accounting firm for the Company and, concurrent with such
resignation, the Companys audit committee approved the engagement of McGladrey &
Pullen, LLP (McGladrey) as the new independent registered public accounting
firm for the Company.
The
audit reports of Caturano on the Companys consolidated financial statements
for the years ended December 31, 2009 and
2008 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, except that the audit opinion for the year ended December 31,
2009 did contain an explanatory paragraph disclosing that the Company changed
the manner in which it accounts for certain warrants effective January 1,
2009. During the two most recent fiscal
years ended December 31, 2009 and through the date of Caturanos
resignation, there were (i) no disagreements between the Company and
Caturano on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedures, which disagreements, if
not resolved to the satisfaction of Caturano, would have caused Caturano to
make reference to the subject matter of the disagreement in their reports on
the Companys financial statements for such years, and (ii) no reportable
events within the meaning set forth in Item 304(a)(1)(v) of Regulation
S-K.
During
the Companys two most recent fiscal years ended December 31, 2009 and
through the date of McGladreys engagement, the Company did not consult with
McGladrey on (i) the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
may be rendered on the Companys financial statements, and McGladrey did not
provide either a written report or oral advice to the Company that McGladrey
concluded was an important factor considered by the Company in reaching a
decision as to any accounting, auditing, or financial reporting issue; or (ii) any
matter that was either the subject of any disagreement, as defined in Item 304
(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of
Regulation S-K, or a reportable event, as that term is defined in Item
304(a)(1)(v) of Regulation S-K.
The
Company has provided Caturano a copy of the disclosures in this Form 8-K
and has requested that Caturano furnish it with a letter addressed to the
Securities and Exchange Commission stating whether or not it agrees with the
Companys statements herein. A copy of
the letter dated August 13, 2010 is filed as Exhibit 16.1 to this Form 8-K.
ITEM 9. FINANCIAL STATEMENTS AND EXHIBITS
9.01
Financial
Statements and Exhibits
(d)
Exhibits.
Exhibit
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Number
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Description
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16.1
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Letter
from Caturano and Company, Inc. to the Securities and Exchange
Commission dated August 13, 2010.
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2
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.
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SATCON
TECHNOLOGY CORPORATION
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Date:
August 13, 2010
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By:
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/s/
John W. Peacock
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John
W. Peacock
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Chief
Accounting Officer
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3
EXHIBIT INDEX
Exhibit
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Number
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Description
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16.1
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Letter
from Caturano and Company, Inc. to the Securities and Exchange
Commission dated August 13, 2010
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4
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