April 17, 2009

NYSE Finally Moves to Scrap Compulsory Press Releases

In the lead-off piece of our “Spring ’09 Issue” of entitled “Facing an Unpredictable World: How to Change Earnings Guidance Practices,” I mention how the NYSE recently filed a proposed rule change that would amend Section 202.05 and 202.06 of the Listed Company Manual to allow listed companies to comply with its “immediate release policy” by disseminating the information “by any Regulation FD compliant method.” This follows a similar change that the Nasdaq made back in ’02 (as discussed in #4777 of our “Q&A Forum” yesterday). The NYSE’s rule change is immediately effective subject to a 30-day operative delay – since it was filed on April 8, I suppose the operative delay will elapse on May 7.

In his IR WebReport Blog yesterday, Dominic Jones picked up the ball on this story and ran. Check it out.

More Sample Documents Posted

We’re constantly post new sample documents in our various Practice Areas, we well as in our “Sample Documents” Portal. For example, we recently posted a sample memo to companies considering repurchasing their own stock in our “Stock Repurchases” Practice Area. And in our “IPOs” Practice Area, we’ve posted a bunch of documents, including a sample lock-up agreement and a sample confidential treatment request. As always, our sample documents (and everything else on our site) come with a disclaimer that you need to make your own legal analysis.

Feeling Glum About Life?

At least you don’t have over 1000 rejection letters from the past few months, this poor – and motivated – third-year is having troubles. If you have some free time, check out this blog’s list of 25 free tools to find out “who knows what about you.”

I’m thinking of doing a webcast on how lawyers can use technology in their practice, including using it to network and find a job. Here is a poll to see if there is any interest:

Online Surveys & Market Research

– Broc Romanek