COVID-19 Disclosures Bring Risks For Life Sciences Companies
Simultaneously, the U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority have announced that they are actively monitoring the markets for “frauds, illicit schemes and other misconduct” concerning COVID-19, and SEC Chairman Jay Clayton recently recognized investors’ thirst for information as earnings season approaches.
These developments, combined with substantial market volatility, will provide countless opportunities for regulators (and private parties) to seize on corporate disclosures relating to COVID-19 as the basis for litigation and enforcement actions.
Reprinted with permission from Law360, April / 2020
Copyright © 2020 by Ballard Spahr LLP.
(No claim to original U.S. government material.)
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.