What is a “short period of time”.
Almost any major event can be deemed material given a set of circumstances. The 4 day rule applies to specific events.
You’re al fake lawyers. Giving people false comfort.
The reasons to be confident are many. The 4 day rule is not one of them.
Assuming they should disclose events and that they in fact would have is a different matter. That leads to lawsuits. Some lawsuits, depending on the facts, are successful and some are not.
That’s what we’re talking about. That is why it is good practice to disclose quickly. To avoid lawsuits. But those are not made pursuant to the 4 day rule, they are made pursuant to facts and circumstances and the management in such suits have a reasonable range of defenses.
But again, there is no such legal axiom. Don’t tell people they should be invested or invest more, because you know there is a “law” and they’d have to disclose and they haven’t so it all must be good.
This is the blind, leading the blind, mostly based upon hearsay and bad observations.
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