Investor relations consultant Dominic Jones notes that Reuters story last week about Google referring investors and others to its Web site to obtain its latest earnings release failed to disclose that its parent company, ThomsonReuters, owns a a PR wire service and stands to lose business if other companies follow Google’s lead.
“First, ‘notice-and-access’ is a process for delivering annual meeting materials and has never been used by the SEC in connection with news releases. And second, the SEC does not require companies to issue any news releases via a paid PR wire service, much less advisory releases. They are one of several options, but not a requirement. Companies can file 8-K reports with the SEC or they can use their websites if that is their established channel for company disclosures.
“There are also these two ridiculous statements in the Reuters piece. These aren’t attributed to anyone so I guess they are either the reporter’s opinions or the views of Reuters and its parent.”
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