On Wednesday, the SEC proposed amendments to its disclosure requirements for public companies based on recommendations in the staff’s FAST Act Report and as part of a broader review of the disclosure system. The comment period is open for sixty days.
The WSJ fairly characterized the changes as “modest and technical,” and Commissioner Piwowar is quoted as saying the amendments are intended to be incremental. Our client memo describing all of the proposed reforms will be issued shortly. The main areas that would impact periodic reporting and do not relate to securities offerings include:
You may not need to describe any properties. Continue Reading
In this case, the Southern District of New York imposed an adverse inference against defendants for their failure to preserve text messages that were in the possession of a non-party. Specifically, Judge Sweet imposed an adverse inference against defendants based upon the … Continue Reading