Daily Journal Corporation has recently addressed actions by activist investor Alexander Erwin Parker, CEO of Buxton Helmsley USA, Inc. According to a company statement, Parker, who until recently held no shares of the company, demanded two seats on the Board of Directors and a consulting contract tied to the company's stock appreciation. The company rejected these demands and refuted Parker’s allegations regarding its financial statements and governance practices. In response to Parker’s subsequent communications, which included threats of a proxy contest, the Board reiterated its confidence in the company’s financial reporting and governance and advised shareholders that no action is required at this time. The company has referred Parker and Buxton Helmsley to federal and state authorities for consideration of criminal prosecution, while maintaining its commitment to act in the best interests of all shareholders.

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