Re: Securities Law and Corporate Governance
posted on
Dec 29, 2012 10:07PM
Well I definitely find this part quite interesting in many aspects relating to the last year and a half.
"The principal requirement for timely disclosure is that a reporting issuer issue and file a press release “forth- with” when a material change in its affairs occurs or when material information relating to its affairs becomes known to management. A “material change” is a change in the business, operations or capital of the reporting issuer that would reasonably be expected to have a significant effect on the market price or value of any of the securities of the reporting issuer. The defi- nition also includes situations where a decision to
implement a change referred to above is made by the board of directors or other persons acting in a similar capacity, or by senior management of the reporting issuer who believe that confirmation of the decision by the board of directors, or such other persons acting in a similar capacity, is probable."
IMO.