Federal Court Rules that Receipt of "Wells Notice" Does Not Trigger Reporting Liability

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On June 21, 2012, the U.S. District Court for the Southern District of New York ruled that a company's receipt of a "Wells Notice" from the SEC does not trigger a duty to disclose under Rule 10b-5 of the Exchange Act.

 

Topics:  Duty to Disclose, Goldman Sachs, Rule 10b-5, SEC, Wells Notice

Published In: Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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