The financial institution shakeup and credit crunch is creating a tsunami of Securities and Exchange Commission disclosure issues for public companies and their outside lawyers across a wide spectrum of industries.
Lawyers say companies have questions about how to characterize the credit market’s and economy’s impact on their business on quarterly reports due next month. SEC rules also require companies to report critical events within a short time frame, and companies are faced with a large volume of potential disclosures, attorneys say.
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