Disclosure of Material Nonpublic Information

Summary

This practice note discusses the obligations of a public company to disclose material nonpublic information under the federal securities laws, including the related rules and regulations of the Securities and Exchange Commission (SEC), the New York Stock Exchange (NYSE), and The Nasdaq Stock Market (NASDAQ). The discussion includes an overview of how to determine what information is material and the duty to disclose it, as well as guidance on how and when to make such disclosure.