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Third Party Disclosure of Undisclosed SEC Investigations By Dave Lynn, TheCorporateCounsel.net Last summer, I blogged about varying practices as to when to disclose pending SEC inquiries or investigations of a company or its officers and directors. Various factors may be pushing the timing of disclosure forward, and one recent development may force some companies to make the disclosure sooner than they otherwise might have under the rules. Disclosureinsight.com is now offering free e-mail updates regarding companies that appear to have undisclosed enforcement activity, based on information derived from FOIA requests. As noted in this article from the Minneapolis-St. Paul Star Tribune, this new site was created by John Gavin, who started his SEC Insight service back in 2000 based on information derived through the FOIA process. Gavin sued the SEC in 2004 over the agency's FOIA practices, namely the blanket denial of FOIA requests using the "Glomar response" (see Broc's blog about this litigation from 2005). - Dave Lynn |
