The Securities and Exchange Commission has, for a very long time, reminded issuers of the need to disclose negative information along with positive developments. The warning that the issuer should be consistent in positive and negative adjustments when showing the impact of the pandemic follows historical advice. The disclosures of the negative side should not be limited to risk factors. Following this guidance will, hopefully, mitigate litigation exposure as well.
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Companies Put the Best Face on Covid-19’s Financial Impact
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About a year into the pandemic, regulators are ramping up their scrutiny of potentially misleading coronavirus disclosures by companies. A senior Securities and Exchange Commission official warned in December that companies should be consistent in positive and negative adjustments when showing the impact of the pandemic.
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