Sun CEO Tells SEC To Loosen Disclosure Requirements

Law360, New York (October 5, 2006, 12:00 AM EDT) -- The head of Sun Microsystems Inc. has sent a letter to the U.S. Securities and Exchange Commission requesting that his blog entries be counted toward corporate disclosure requirements.

In his letter to SEC Chairman Christopher Cox, dated Sept. 25, Sun CEO Jonathan Schwartz said the Internet would keep investors better-informed and create a more transparent environment than SEC filings and other ways companies currently communicate with their shareholders.

“If we have material news to disclose, we have to hold an anachronistic telephonic conference call, or issue...
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