Foley & Lardner LLP Partner Jessica Lochmann is quoted in the Law360 article, “New Buyback Rules Put Companies’ Motives Under Spotlight,” discussing new disclosures mandated by the U.S. Securities and Exchange Commission that will see greater scrutiny placed upon company buyback programs.
Companies should prepare to justify their buyback programs in greater detail, and Lochmann said to limit liability for misleading disclosures, corporate executives and boards should carefully examine whether their communications on buyback policies are materially accurate and complete.
“And those reasons and rationales may change over time,” Lochmann added. “I don’t think that language should be boilerplate.”
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