FB - Does it have a private messaging feature?
Are some messages only for "friends?"
Can anyone - even those that are not registered to use the web site - read company offical posts?
If the answer is "YES" on #1, or #2, there may be legal problems.
If the answer is "YES" on #3, they might survive a legal test. But it really depends on what is being discussed.
I can't wait for a CEO or CFO of some company to announce a secondary offering on Twitter. That will be an awesome test of Reg FD.
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