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): May 20, 2003
------------
MOVIE STAR, INC.
----------------
(Exact Name of Registrant as Specified in Charter)
New York 1-5893 13-5651322
---------------------------- ------------------- -----------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number Identification No.)
1115 Broadway, New York, New York 10010
---------------------------------------- --------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 684-3400
--------------
Not Applicable
--------------
(Former Name or Former Address, if Changed Since Last Report)
Item 4. Changes in Registrant's Certifying Accountant
(a) Previous independent accountants
--------------------------------
(i) Effective May 20, 2003, Movie Star, Inc. ("Company")
dismissed Deloitte & Touche LLP as its independent accountants.
(ii) The reports of Deloitte & Touche LLP on the Company's
consolidated financial statements for the past two fiscal years 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.
(iii)The Company's Audit Committee participated in and approved
the decision to change independent accountants.
(iv) In connection with its audits for the two most recent fiscal
years and through May 20, 2003, there have been no disagreements with Deloitte &
Touche LLP on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to the satisfaction of Deloitte & Touche LLP, would have caused
them to make reference to the subject matter of the disagreement in connection
with their reports.
(v) During the two most recent fiscal years and through May 20,
2003, there have been no reportable events as defined in Item 304(a)(1)(v) of
Regulation S-K.
(vi) The Company requested that Deloitte & Touche LLP furnish it
with a letter addressed to the SEC stating whether or not it agrees with the
above statements. A copy of such letter is attached as Exhibit 16.1 to this Form
8-K.
(b) New independent accountants
---------------------------
The Company engaged Mahoney Cohen & Company, CPA, P.C. as its new
independent accountants as of May 20, 2003. During the two most recent fiscal
years and through May 20, 2003, the Company has not consulted with Mahoney Cohen
& Company, CPA, P.C. regarding (i) 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 Company's consolidated financial
statements, and no written report or oral advice was provided to the Company
concluding there was an important factor to be considered by the Company in
reaching a decision as to an accounting, auditing or financial reporting issue;
or (ii) any matter that was either the subject of a disagreement, as that term
is 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)(iv) of Regulation S-K.
Item 7. Financial Statement and Exhibits
(c) Exhibits:
16.1 Letter from Deloitte & Touche LLP dated May 20, 2003.
99.1 Press release dated May 27, 2003.
SIGNATURE
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.
Dated: May 27, 2003 MOVIE STAR, INC.
By: /s/ Melvyn Knigin
-------------------------------------
Melvyn Knigin
President and Chief Executive Officer