Should We End US Public Company Quarterly Reporting?

My fellow Wharton grad Marty Lipton, the scion of venerable M&A law firm Wachtell Lipton and inventor of the poison pill, is adding to the drumbeat of folks suggesting that quarterly reporting by public companies might be bad. Why? Because it forces companies to focus much more on short-term results, discouraging capital investment and strategic

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SEC Filing Fees Going Down. Again!

Sometimes good things happen to good people. In this case folks filing public offerings and other registrations with the SEC will see a reduction in filing fees. The agency made the announcement yesterday. As of October 2015, the start of the SEC’s fiscal year, the filing fees will go down 13% to $100.70 per million

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Part of Conflict Minerals Disclosure Confirmed Unconstitutional

Despite the SEC’s attempt to force the court to reconsider, the US Circuit Court of Appeals for the DC Circuit this week reaffirmed its decision from last year that parts of the SEC’s required disclosure by public companies of their involvement with “conflict minerals” is unconstitutional. The Dodd-Frank Act of 2010 required this disclosure requiring

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Ready for Robot Lawyers?

Enter Ross, a so-called “artificially intelligent attorney,” which students at the University of Toronto developed, according to the ABA Journal. This is for real. The students worked with IBM and the Watson computer, you know, the one that won on TV’s Jeopardy. Ross can learn and has been doing legal research in bankruptcy at a

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SEC Comments to 10-K and 10-Q Filings Steadily Declining

Audit Analytics has done a fascinating review of the Securities and Exchange Commission’s penchant for issuing comment letters after reviewing public companies’ quarterly and annual filings on Forms 10-K and 10-Q (like the one Apple got above). The Sarbanes-Oxley Act of 2002 mandated the SEC conduct this review at least every three years for every

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5 Hot Spots in Havana: Long Way to Go

The Washington Post Sunday had a fascinating story about one of the just five public wifi locations in the city of Havana and how locals flock there daily to get on Facebook and communicate with loved ones. You still can’t go to your cell provider and get a data plan there. This is pretty much it

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SEC Passes CEO Pay-Ratio Rules on Partisan Lines

A sharply divided Securities and Exchange Commission approved rules mandated by the Dodd-Frank Act requiring most companies to disclose the ratio of their CEO’s pay to their average median employee salaries. The two Republican commissioners strongly opposed the rules on various grounds. A controversial part of Dodd-Frank, passed over 5 years ago, the rules are

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Are Chimps People? NY Court Rules

A trial court in New York State earlier this week  ruled on a most difficult question: should chimpanzees used by Long Island’s Stony Brook University for research be treated the same as people and deserving of human rights? The case was brought by a group called the Nonhuman Rights Project and argued that if treated

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5 Reasons Duane Morris is an Awesome Law Firm

To my faithful blogees: as you know I very rarely self-promote here, whether shamelessly or not. But I’m extremely excited about my new affiliation with the 700-attorney international law firm of Duane Morris LLP. The firm’s reputation spans many decades and has strongly and steadily grown throughout the time I have been practicing. Here’s why

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Watch That Phone! Court Says No Privacy in Pocket Dialing

Has your phone ever made one of those calls by accident while sitting in your pocket? It’s happened to most of us. Well, a Cincinnati appeals court says you have no expectation of privacy when that happens. It’s easy enough to lock your phone or add a password or install an app to prevent pocket

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