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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.
While some companies have recently used social media for the release of material news, caution may be warranted for a medium that is vulnerable to abuse. The SEC recently announced market manipulation charges arising from false tweets that affected the stocks of two companies. According to the SEC’s complaint, an investor tweeted multiple false statements on Twitter accounts that he deceptively created to look like the real Twitter accounts of well-known securities research firms. The false tweets caused sharp drops in the stock prices of two companies and triggered a trading halt in one of them. Read the SEC press release.