BLOGGER: Lora Bentley E-mail Lora - Lora is an attorney and journalist who covers regulatory and legislative issues for IT Business Edge’s Managing Compliance Standards weekly report. |
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Not everyone thinks the Sarbanes-Oxley Act of 2002 is the worst thing to happen to corporate America. Just ask the shareholders of New York-based retailer Syms. At the end of 2007, company leaders applied to delist its shares from the New York Stock Exchange. They did so in order to save some $750,000 in costs associated with Securities and Exchange Commission reporting and Sarbanes-Oxley compliance. Well, shareholders didn’t think it was a good thing at all, and they immediately began to protest — vigorously, media reports say. If the company went private, they would no longer have assurance that the company was protecting their interests; nor would they have regular and easy access to financial information from which to make informed decisions about their investments. So, in February, the company caved to the pressure, re-registered with the SEC and listed its shares on the Nasdaq. READ MORE |
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20Mar
Filed under: General
BLOGGER: Lora Bentley
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