Compliance » Disclosure Leeway Affirmed In 1st Circuit Case

Disclosure Leeway Affirmed In 1st Circuit Case

February 26, 2015

Preparation business contract icon.

Cooley LLP partner Lyle Roberts, writing in his blog The 10b-5 Daily, looks at a case that clarifies the extent to which a company is required to discuss potential regulatory actions in its financial disclosures. In Fire and Police Pension Association of Colorado v. Abiomed, Inc., the First Circuit Court of Appeals upheld the dismissal of a case where the possibility of regulatory action against the defendant drug company Abiomed had been broached but was uncertain, and in fact was resolved without any action taken against the company. “There must be some room for give and take between a regulated entity and its regulator,” the court said.

Read full article at:

Daily Updates

Sign up for our free daily newsletter for the latest news and business legal developments.

Scroll to Top