Free With Registration: Avoid the Traps in Investor and Analyst Calls
Richard Steuer, Jodi Simala and John Roberti, partners with Mayer Brown, write that for most public companies, periodic conference calls and webcasts with investors and financial analysts are a fact of life. The calls, typically open to the public so that companies may avoid “selective disclosure” issues, attract two types of visitors who otherwise would not have been present: competitors, for whom the calls provide a rich source of competitive intelligence, and the government, which knows that competitors can and do listen to investor and analyst calls, and may view them as opportunities for companies to signal one another.
