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Category Archives: SEC

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Social Media and Proxy Contests

Posted in SEC

As the use of social media continues to grow, social media is likely to play an increasingly more prominent role in proxy contests. In this context, the recent Compliance and Disclosure Interpretations issued by the SEC’s Division of Corporation Finance provide helpful clarifications on how social media outlets can be used in proxy contests in… Continue Reading

Hot Off the Press: The May Issue of Our Socially Aware Newsletter Is Now Available

Posted in Copyright, FTC, Internet of Things, IP, Litigation, Privacy, SEC, Supreme Court, Terms of Use

The latest issue of our Socially Aware newsletter is now available here. In this issue of Socially Aware, our Burton Award-winning guide to the law and business of social media, we analyze a groundbreaking FTC complaint alleging deceptive practices online that could turn website Terms of Use into federal law; we summarize a U.S. Supreme… Continue Reading

SEC Staff Guidance on the Use of Social Media in Securities Offerings, Tender Offers, Business Combinations and Proxy Contests

Posted in SEC, Securities Law

The staff of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) recently provided guidance on applying its rules regarding communications in connection with securities offerings, tender offers, business combinations and proxy contests when statements are made utilizing certain social media channels. The staff’s guidance permits the use of a hyperlink… Continue Reading

Stop Insider Tweeting!—Feds Eye Social Media for Securities Shenanigans

Posted in Financial Institutions, SEC, Securities Law

Article courtesy of Morrison & Foerster’s MoFo Tech As financial institutions and investors turn to social media to instantly share snippets of news and potential clues about market trends, the FBI and SEC are monitoring such postings for evidence of insider trading and improper investment information. Companies must comply with pre-Internet federal securities laws covering… Continue Reading

SEC Offers Guidance on Use of Social Media for Public Disclosure

Posted in SEC, Securities Law

On April 2, 2013, the U.S. Securities and Exchange Commission (SEC) issued guidance in the form of the Report of Investigation under Section 21(a) of the Securities Exchange Act of 1934 which indicates that social media channels—such as Twitter and Facebook—could be used by public companies to disseminate material information, without running afoul of Regulation… Continue Reading

SEC Releases Proposed Rules Relaxing Ban on General Solicitation

Posted in SEC

Following this morning’s meeting, the Commission has published its proposed rules: http://www.sec.gov/rules/proposed/2012/33-9354.pdf Summary The SEC published its guidance today as a proposed rule, with a comment period, and not as an interim final rule. The SEC proposes to amend Rule 506 to provide that the prohibition against general solicitation contained in Rule 502(c) shall not… Continue Reading

The JOBS Act Opens Door for Crowdfunding Offerings

Posted in Crowdsourcing, JOBS Act, SEC, Securities Law

For several months, various legislative proposals that would ease regulatory and financing burdens on smaller companies have been discussed by legislators, business leaders and commentators. These proposals were brought together under the Jumpstart Our Business Startups (JOBS) Act (H.R. 3606). The JOBS Act was passed by Congress on March 27, 2012 and signed into law… Continue Reading

Relevance of Securities Laws in the Social Media Age – Seminar Series

Posted in Event, SEC, Securities Law

Join us for this timely seminar series in New York, Palo Alto, and San Francisco. The use of social media by public companies and their employees raises many legal issues, such as the application of the federal securities laws to communications made through company websites, blogs, Twitter and Facebook. Those communications implicate laws regulating selective… Continue Reading