Regulation Archive

Mar 01, 1996
The incidence of shareholder litigation has exploded in recent years so that a high growth company or one operating in a volatile industry can expect to be hit with securities fraud class action at some point in its life. Recent changes in the law offer some relief: the Private Securities Litigation Reform Act of 1995 aims to protect companies when they provide 'forward-looking' information. It puts a premium on including appropriate risk disclosures when providing g...
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Dec 01, 1995
When wireless telecom company Nextel launched a proxy solicitation to ensure bondholder and stockholder consent to expansion plans that would triple the size of the company, Paul Blalock, executive director of IR, lost a few nights sleep. Assuming their consent was forthcoming, Nextel would claim the largest footprint of any wireless telecom company in America, covering some 250 mn people - or 'pops' in the industry jargon. More importantly, Nextel would...
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Nov 01, 1995
The media mega-merger sweepstakes were launched with a vengeance one Monday morning in late July when Michael Eisner, chairman and CEO of The Walt Disney Company, kicked off a week that would see his company bid $19 bn for Capital Cities/ABC and Westinghouse offer $5.4 bn for CBS. Soon after, Time Warner Inc threw its hat into the ring with its $8 bn bid for Turner Broadcasting System. Despite the stakes, there was little tension in the air that Monday morning...
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Oct 01, 1995
That paragon of disclosure, the Securities and Exchange Commission, has come to the conclusion that too much information can ultimately mean less information. As such, it is seeking public comment on proposals to allow firms to issue abbreviated financial statements in their annual reports and other documents, such as prospectuses and proxy statements. To be fair to the SEC, it hasn't done an about-turn on its disclosure policy. If implemented after the comment...
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Sep 01, 1995
The two of them were sitting in the lounge of a midtown hotel. On the table was an ice bucket which contained a bottle of champagne. Not just any champagne, mind you, but Krug. 'So what are you celebrating?' I asked, hoping to be invited to sit down and share what was left in the bottle. 'Well, it's not official yet,' came the reply, 'but I suppose we can tell you. We're getting together.' Greg and Tim were very similar. Both were in their mid-30s and h...
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Jun 01, 1995
'Business Objects is a leader in the development, marketing and support of enterprise-wide decision support tools for the client/server market.' Hmmm. Normally when you get a press release it summarises the situation in easy-to-understand lay terms. Someone's obviously made an attempt at a simple explanation of what the company does here, but it still beats me. Luckily, there's some further explanation. 'The company's software enables end-users to easily perfo...
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