Daily Journal Corporation has released its response to a series of threats and demands from Buxton Helmsley USA, Inc. (BUHEUI) and its CEO, Alexander Erwin Parker. The company has referred Buxton and Parker to federal and state authorities for consideration of criminal prosecution. The company has also stood firmly behind its financial statements and accounting judgments.
Parker demanded two seats on the company’s board and a consulting contract that would give him a cash payment of 15 cents for every dollar of appreciation in the company’s stock price, estimated to pay him $24 million. However, the company refuted Parker’s accounting allegations and rejected his demands.
Since July 2025, Parker made several threats including referrals to the SEC enforcement division, threats to the company’s auditor, CFO, and a company director. The company has referred this matter to federal and state authorities to evaluate the evidence and consider criminal prosecution of BUHEUI and Parker. It has also referred them to the SEC’s enforcement division for consideration of civil charges related to their threats.
The Board is confident in the company’s financial reporting, governance practices, and leadership. The company expects to file its annual report on Form 10-K for fiscal year 2025 next week and it will reflect the company’s continued application of ASC 985-20, consistent with past practice.
The company's board remains fully focused on acting in the best interests of the company and all of its stockholders and will not be diverted from that responsibility by coercive tactics. Today the company's shares have moved -1.41% to a price of $524.27. Check out the company's full 8-K submission here.
