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Managing Rumors, Maintaining Communication

Law360 (March 20, 2009, 12:00 AM EDT) -- It might be a good time for investment companies and investment advisers to review their policies and procedures relating to rumors. Or to adopt a policy, if none exists.

False rumors and market manipulation have been the stuff of headlines and regulatory sweeps in recent months. Regulators and others suspect that during the market upset of the past year, securities prices of various issuers, particularly financial companies, including Bear Stearns and Lehman Brothers, were being manipulated by various combinations of false rumors and short selling....
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