Securities lawyers eagerly await the first (or the first few) new filings required by law to learn (and of course copy) from them. So the first conflict minerals filing to hit Edgar last week was eagerly anticipated, and immediately over analyzed.
Broc Romanek at TheCorporateCounsel.net reported reader reaction ranging from “If this is the baseline, we are looking to be in good shape,” to “Good example of “what not to do”” to “This thing is totally bizarre.”
For the reasons set forth in this blog, we don’t think issuers will follow this as precedent.
So one lesson learned is never be the first to file anything new early.
We are hoping the second filing is more instructive.
ABOUT STINSON LEONARD STREET
Stinson Leonard Street LLP provides sophisticated transactional and litigation legal services to clients ranging from individuals and privately held enterprises to national and international public companies. As one of the 75 largest firms in the U.S., Stinson Leonard Street has more than 520 attorneys and offices in 14 cities, including Minneapolis, Mankato and St. Cloud, Minn.; Kansas City, St. Louis and Jefferson City, Mo.; Phoenix, Ariz.; Denver, Colo.; Washington, D.C.; Decatur, Ill.; Wichita and Overland Park, Kan.; Omaha, Neb.; and Bismarck, N.D.
The views expressed herein are the views of the blogger and not those of Stinson Leonard Street or any client.