NASDAQ Requires Ten Minutes Notice of Release of Material Information; Makes its Rule on Website Disclosure Consistent with SEC Rules

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Starting December 7, 2009, The NASDAQ Stock Market LLC (“Nasdaq”) requires ten minutes prior notification of the release of material information by Nasdaq-listed companies. Nasdaq has also modified its rule on use of company websites to comply with disclosure obligations.

On November 5, 2009, Nasdaq filed with the Securities and Exchange Commission proposed changes to Rule 5250 and related IM-5250-1, which govern disclosure of material information by Nasdaq companies. These changes were effective immediately and operative on December 7, 2009.

Please see full bulletin below for more information.

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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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