SEC Rules Social Media Announcements Satisfy Public Disclosure

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In 2000, I worked at a PR start up firm that had many VC funded tech companies riding on the dot com bubble. One of my roles, which included many since it was a start up, was to write and distribute investor relations' announcements for our one publicly traded client. It was a frightening task as once the release hit the wires, I was flooded with calls from the press and investors. They weren't the friendly types of calls as the press would scrutinize every word I wrote, looking for the REAL story behind the numbers.

The investors would call up wanting to know how the numbers were calculated and if we missed our guidance, they wanted to know why. I was one person, I couldn't answer everything nor allowed to without the client's knowledge. I am glad to hear that the SEC recognizes Corporate Blogs and Corporate sites (such as corporate branded social media sites) as appropriate vehicles for public disclosure announcements:

With the various content options available on a corporate social media site (blogs, videos, podcasts, etc), disseminating information to the public in this format can save a company tons of time, money and pain. For the press and investors, they will receive one central location for all inquiries and information pertaining to an announcement which will make their lives much easier as well. I think it's a win-win for everyone.

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