A Reg FD Reminder From Social Media
Law360, New York (June 18, 2012, 1:14 PM ET) -- A chief financial officer’s recent misstep highlights the U.S. Securities and Exchange Commission’s rule against selective disclosure of corporate information in connection with electronic communications with investors. On May 14, 2012, Francesca’s Holdings Corporation announced the termination of its CFO based on a finding that he had improperly communicated company information through social media. Published news reports indicate the CFO made a comment on Twitter that said “Board meeting. Good numbers = Happy Board” during a quiet period prior to its planned earnings release. Francesca’s terminated...
To view the full article, take a free trial now.
