Communication with Financial Analysts and Related Disclosure Issues

The firm recently updated a memorandum addressing disclosure issues that frequently arise in communications between a public company and the market.  The memorandum, “Communication with Financial Analysts and Related Disclosure Issues,” includes recent developments in the enforcement of Regulation FD, as well as judicial decisions relating to Rule 10b-5 and the duty to update previous communications.  The memorandum also discusses, among other topics, responding to market rumors, entanglement with research reports and public disclosure of non-GAAP financial measures.