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How Analysts and Investors Use AI to Review Earnings Releases

As borne out by a recent study, analysts and investors are increasingly using AI tools to read and analyze earnings reports (10-Ks, 10-Qs, earnings releases and transcripts) to gain faster insights and identify investment opportunities. These tools leverage natural language processing, machine learning and sentiment analysis to extract, interpret and rank relevant data. Here are some of the ways that analysts and investors use AI …

Nevada Takes First Steps Towards Forming a Business Court

At the end of July, the Chief Justice of the Nevada Supreme Court proposed the adoption of a rule that would create a Commission to look into creating a business court in the two largest judicial districts in Nevada. Here is the court’s docket on that rulemaking, which includes comment letters from interested parties. A hearing was held on the proposal a few days ago, …

The Ten Most Common XBRL Errors for Form 10-Ks

Given that the Staff from the SEC’s Division of Economic and Risk Analysis recently had to post this note about errors for XBRL tags on “public float” amounts, I thought I would list the ten most common XBRL errors made by filers of Form 10-Ks, based on observations from the SEC’s DERA staff, Corp Fin staff comment letters and other commentary: 1. Incorrect Tag Selection: …

Corp Fin Continues to Make Reg A Offerings Easier to Conduct

Last month, Corp Fin’s Office of Small Business Policy issued no-action relief to a company from the requirement to file an annual report on Form 1-K under Regulation A – despite the fact that the company didn’t qualify for reporting suspension under Rule 257(d) of Regulation A. Corp Fin based its reasoning upon public policy considerations underlying the Reg A reporting requirements, as the company …

Reincorporation Considerations for Late-Stage Private and Pre-IPO Companies

Here’s an excerpt from this lengthy piece on Cooley’s CapitalXchange that explores the impact of the recent Delaware, Texas and Nevada state changes relating to in which state a company might want to be incorporated in: “Senate Bill 21 also makes changes to Section 220 of the DGCL, relating to the inspection of books and records, including the following: Our securities litigation + enforcement colleagues …

Nevada Enacts Law to Provide More Statutory Liability Protections

Recently, Nevada passed new legislation (AB 239) to amend the Nevada Revised Statutes to provide a number of statutory liability protections, including de-emphasizing the use of Delaware case law in interpreting Nevada law. Here are five key aspects of this new legislation: 1. Modernizing fiduciary duty for controlling stockholders Nevada now defines a controlling stockholder based on actual voting power (enough to elect a board …