Chairman Jay Clayton during an open meeting of the U.S. Securities and Exchange Commission on June 5, 2019. Photo: Diego M. Radzinschi/ALMThe statement ties the nation’s recovery from COVID-19 to companies’ willingness to file robust disclosures. “This is a clarion call to speak out ... [and] an affirmative push to get people in the midst of the uncertainty to lean in and provide forward-looking forecasts," said Sabastian Niles of Wachtell, Lipton, Rosen & Katz.
April 09, 2020 at 05:57 PM
1 minute read
senior reporter
The original version of this story was published on Corporate Counsel
As nearly every public company struggles with what to say about the impact of COVID-19 on the business and how to say it, two officials at the U.S. Securities and Exchange Commission on Wednesday released an unprecedented statement detailing what companies should disclose.
As most general counsel already realize, “this quarter, earnings statements and calls will not be routine,” the statement said.
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