I think FD itself is simply that companies AND it's management are now liable IF they give priviledged information to institutions,brokerages without simultaneously making this information available to all others.
But Ceos or whatever can say "i am optimistic about the next quarter" based on almost anything,such as,i am optimistic about the next quarter because i FEEL/BELIEVE/THINK the lower interest rates will be having a good effect by then.Yes i FEEL optimistic about this,and BELIEVE we will have a return to positive growth.
and that the speaker and the corporation are protected by the law <<Private Securities Litigation Reform Act of 1995, instituted to protect corporate America from class-action suits.>>.
Also,it is at these times we can learn who are the BSers and who are honest.
I heard Scott McNealy say recently in a public interview(NOT verbatum)"I laugh at these people who are saying they have perceived the bottom,how can they see the bottom when they didn't see the cliff" So,i feel,in this case,SUNW's "no visibility" is probably exactly what is meant,but with an indicator the "no visibility" may be badside with the statement SUNW are seeing reduction in demand spreading into Europe and Asia.
I think the class-action suits in part are a challenging of the
<<Private Securities Litigation Reform Act of 1995, instituted to protect corporate America from class-action suits.>>. But the the reform act is still in the books,and there for defense counsels to fully utilize,such that many of these "ambulance chaser class-action suits" are only in the interest of lawyers to collect legal fees.Max |
