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CALIFORNIA CORPORATE & SECURITIES LAW

If The Market Makes You Do It, Why Should The SEC?

The basic premise underlying most disclosure requirements seems to be that issuers won’t disclose to investors unless legally required to do so.  Yet, there is ample evidence of issuers making disclosures in the absence of legal compulsion.  Below are just a few examples: Earnings announcements.  While SEC rules require companies to file quarterly and annual…

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