Annual reporting season is once again upon us, so as you dust off your to do list, here are a few of the many important items for in-house counsel to consider during the inevitable flurry of activity in the coming weeks.
When J.C. Penney stated in investor communications that “supplier relationships remain as strong as ever” was the company being hopeful or factual? Further, could that kind of statement get a company in trouble? According to U.S. Magistrate Judge K. Nicole Mitchell in a recent proposed class action against J.C. Penney, it certainly may.
The SEC recently issued under the JOBS Act the long-awaited crowdfunding rules, whereby small businesses may raise capital from a large number of investors, each of whom contributes a small amount of money, without going through the trouble of filing a registration statement with the SEC. However, it is important to understand the limits and filing requirements imposed by the SEC before moving forward with a crowdfunding transaction.