This forward-looking statement legend template can be used in an initial public offering prospectus by a company to avail itself of the bespeaks caution doctrine. Under common law, this doctrine limits liability for forward-looking statements (later proven to be incorrect) that are either immaterial or are accompanied by appropriate cautionary language. This template includes practical guidance and drafting notes. It is important to note that the statutory safe harbors provided under the Private Securities Litigation Reform Act of 1995 (104 P.L. 67, 109 Stat. 737) are NOT available for forward-looking statements made in connection with an initial public offering, though the requirements of the bespeaks caution doctrine are generally similar to the statutory safe harbors. For more on IPOs generally, see Initial Public Offerings Resource Kit. For more information on the bespeaks caution doctrine and the forward-looking statement safe harbors, see Safe Harbors for Forward-Looking ...