Replies to post #24781 on Mucinno Holding Inc. (MCNO)

[Nefyn]

The irony is, CTLE is going up regardless of these bogus filing rumors

[KeepItRealistic]

Wrong...

It’s called confidential treatment by SEC while RAF is building their large position in CTLE secretly and privately. These confidential filing information will eventually be disclosed to the public once RAF industries finished acquiring their stake in CTLE.

Warren Buffett has received confidentiality treatment several times in the past via Bershire while they were building a large position in these public companies, so not to disturb the public and trigger unnecessary unwanted events.


Applying for Confidential Treatment. The Guidance provides an enumerated list of the necessary steps for submitting a confidential treatment request. Notably, with regard to identifying the Freedom of Information Act (FOIA) exemption that the company is relying on, the Guidance refers to the recent decision in Food Marketing Institute v. Argus Leader Media, 139 S.Ct. 2356 (2019). That U.S. Supreme Court case broadened the definition of “confidentiality” under FOIA exemption 4, which protects “trade secrets and commercial or financial information obtained from a person [that is] privileged or confidential.” As redefined by the Court, “confidentiality” for FOIA exemption 4 purposes no longer requires a showing of substantial competitive harm and instead only requires a showing that “commercial or financial information is both customarily and actually treated as private by its owner and provided to the government under an assurance of privacy.”

Staff Review of
Confidential Treatment Requests. The Guidance states that the Staff reviews all requests for confidential treatment to determine whether it should issue an order granting the request. The Guidance highlights that in addition to confirming that an applicant has satisfied the necessary steps for submitting a confidential treatment request, the Staff will consider the materiality of the omitted information and whether there are excessive omissions. Further, unlike in the past, where the Staff would issue written comments to an applicant in a formal letter, the Guidance indicates that the Staff will now issue comments to the applicant via telephone and request a written response. Once the comments are resolved, the Staff will either grant the confidential treatment request or allow the applicant to withdraw its request.