I was part of a conversation today about materiality and blogging. One of the participants,
a lawyer, was explaining all the SEC rules concerning disclosure of forward looking
information by public companies and how dangerous blogging can be. Someone else laughingly
said he had heard it said that blogging can destroy a company just be sure it is not ours.
Obviously if a blogger starts talking about things like future product strategy or mergers
and acquisitions it is material information. But where do you draw the line? If you say we
are going to fix this bug in our next release is that material information?
It occurred to me that this is probably a discussion that has happened before. In fact I
would imagine that whenever a public company talks about blogging this comes up. I'm sure
there have been some good posts addressing this question. I'll do a bit of keyword
searching but if anyone is aware of good blogs on this topic please let me know.