NOTE: THE INFORMATION BELOW IS BY NO MEANS INTENDED TO BE COMPREHENSIVE. IT IS PROVIDED ONLY AS A GUIDE TO AID IN YOUR UNDERSTANDING. AS A MAVEN PARTICIPANT OR CUSTOMER, YOU ARE OBLIGATED TO REFRAIN FROM SOLICITING OR DISCLOSING MATERIAL NON-PUBLIC INFORMATION IN CONNECTION WITH YOUR USE OF MAVEN. YOU ARE REMINDED THAT FAILURE TO COMPLY WITH MAVEN’S TERMS & CONDITIONS AND ALL APPLICABLE LAWS MAY RESULT IN YOUR TERMINATION AS A MAVEN PARTICIPANT OR CUSTOMER AND SIGNIFICANT LEGAL PENALTIES.
What is Material Nonpublic Information?
It is not possible to define all categories of material information. However, information should be regarded as material if there is a reasonable likelihood that it would be considered important to an investor in making an investment decision regarding the purchase or sale of a Company’s securities.
While it may be difficult under this standard to determine whether particular information is material, there are various categories of information that are particularly sensitive and, as a general rule, should always be considered material. Examples of such information include unannounced information about a Company’s:
- Financial results
- Future earnings or losses
- Changes in prices or subscription rates
- Pending or proposed mergers
- Acquisition or disposition of significant assets
- Developments related to intellectual property
- Developments involving corporate relationships
- Changes in dividend policy
- New products or service announcements
- Stock splits
- New equity or debt offerings
- Actual or threatened litigation
- Either positive or negative information may be material.
Nonpublic information is information that has not been previously disclosed to the general public and is otherwise not available to the general public.
Remember — when in doubt, don’t disclose.