The Sarbanes-Oxley regs regarding FULL disclosure to shareholders.

[BleedingHeartPatriot]

SOX was instituted after the Enron fiasco. (link to full regs beneath excerpt)

Disney is compelled to comply to these regs.

Not only is a publicly held company required to disclose all fiscal transactions, the reports must be audited by an independent auditor.

Keep shining the light on these nefarious goings on!

(i) ACCURACY OF FINANCIAL REPORTS- Each financial report that contains financial statements, and that is required to be prepared in accordance with (or reconciled to) generally accepted accounting principles under this title and filed with the Commission shall reflect all material correcting adjustments that have been identified by a registered public accounting firm in accordance with generally accepted accounting principles and the rules and regulations of the Commission.

j) OFF-BALANCE SHEET TRANSACTIONS- Not later than 180 days after the date of enactment of the Sarbanes-Oxley Act of 2002, the Commission shall issue final rules providing that each annual and quarterly financial report required to be filed with the Commission shall disclose all material off-balance sheet transactions, arrangements, obligations (including contingent obligations), and other relationships of the issuer with unconsolidated entities or other persons, that may have a material current or future effect on financial condition, changes in financial condition, results of operations, liquidity, capital expenditures, capital resources, or significant components of revenues or expenses.'.

(b) COMMISSION RULES ON PRO FORMA FIGURES- Not later than 180 days after the date of enactment of the Sarbanes-Oxley Act fo 2002, the Commission shall issue final rules providing that pro forma financial information included in any periodic or other report filed with the Commission pursuant to the securities laws, or in any public disclosure or press or other release, shall be presented in a manner that--

(1) does not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the pro forma financial information, in light of the circumstances under which it is presented, not misleading; and

(2) reconciles it with the financial condition and results of operations of the issuer under generally accepted accounting principles.

Link here.http://www.legalarchiver.org/soa.htmn

MKJ

[BleedingHeartPatriot]

1. Kicking, and I'm sending a note to ABC reminding them of SOX.

This is another legal weapon in the shareholders' aresenal. MKJ

:kick: