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 9, 2002 CYGNE DESIGNS, INC. (Exact name of issuer as specified in its charter) Delaware 0-22102 04-1843286 (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 1410 Broadway New York, New York 10018 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (212) 997-7767 None. (Former address, if changed since last report.) ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT. On May 9, 2002, Ernst & Young LLP ("E&Y") notified Cygne Designs, Inc. (the "Company") that E&Y resigned as the Company's independent public accountants, effective immediately. During the Company's two most recent fiscal years ended February 3, 2001 and February 2, 2002, and through the date of this Form 8-K, there were no disagreements between the Company and E&Y on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to E&Y's satisfaction, would have caused E&Y to make reference to the subject matter of the disagreement in connection with its reports. None of the reportable events described under Item 304(a)(1)(v) of Regulation S-K occurred within the Company's two most recent fiscal years ended February 3, 2001 and February 2, 2002 or through the date of this Form 8-K. The audit reports of E&Y on the consolidated financial statements of the Company as of and for the fiscal years ended February 3, 2001 and February 2, 2002 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. The Company provided E&Y with a copy of this Form 8-K. Attached as Exhibit 16.1 to this Form 8-K is a copy of E&Y's letter, dated May 14, 2002, stating its agreement with the statements concerning E&Y. The Audit Committee of the Board of Directors of the Company is currently in the process of engaging a new independent public accounting firm for the Company. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Financial Statements of Business Acquired. None. (b) Pro Forma Financial Information. None. (c) Exhibits. 16.1 Letter, dated May 14, 2002, from Ernst &Young LLP to the Securities and Exchange Commission. 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. CYGNE DESIGNS, INC. (Registrant) By: /s/ Roy E. Green ----------------------- Roy E. Green Senior Vice President - Chief Financial Officer Dated: May 14, 2002