Was Disclosure Unfair?

May 2001
Financial Executive;May2001, Vol. 17 Issue 3, p11
Academic Journal
The article reports on the decision by Emulex Corp. to broadcast bad news via a Webcast. The California-based networking equipment maker appeared to contravene the U.S. Securities and Exchange Commission's regulation fair disclosure rules by not issuing a press release first covering an announcement about disappointing sales. Instead, it sent a brief release not detailing the news and directing investors to its Web site. On the Web site chief executive officer Paul Folino was to address a technology conference a few days later. Emulex argued that the news was not a matter of lowering earnings guidance.


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