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Your business is moving fast. You need to assess new developments quickly, determine if they apply to your business, and act accordingly. The Ticker is designed to focus your attention on key developments in the areas of SEC compliance, capital markets, corporate governance, executive compensation and other matters important to public companies and their officers and directors. Below are summaries of recent developments in these areas.
A recent Seventh Circuit decision suggests public companies should take care when disclosing employment-related litigation by name in their Form 10-K. In Greengrass v. International Monetary Systems, the court held that a former employee could assert retaliation against a former employer when the company listed her discrimination case by name and described it as “meritless” in the company’s annual report filed with the SEC. This may merit revisiting contingency and legal proceeding disclosures to ensure they say no more than required by law. Read the commentary.