The SEC is reconsidering the 500-shareholder threshold for when private companies must publicly disclose financial information.
Sarah Johnson, CFO.com | US
May 17, 2011
Mr. Selling, Thank you for your response, and for giving more specifics on which companies can "go dark" than what the article provides.
Posted by Sarah Johnson | May 18, 2011 01:33 pm
Factual correction: A company may not "go dark" --when the number of shareholders dips below 500 (as stated in the article) unless it also has less than $10 million in assets. If it has more than $10 million in assets, it cannot terminate its filing duties unless the number of shareholders dips below 300.
Posted by Thomas Selling | May 18, 2011 01:24 pm© CFO Publishing Corporation 2009. All rights reserved.