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financial disclosure claims

Claims made against corporate directors and officers pertaining to statements made about anticipated earnings or other financial issues. The basis of such claims is that directors' and officers' failure to disclose or untimely disclosure of certain information has caused stockholders to suffer losses. Financial disclosure claims most frequently arise when quarterly earnings fall below expectations based upon earlier statements made by directors and officers and when directors and officers do not disclose some unfavorable but foreseeable event (e.g., severe losses from uninsured product liability claims) on a timely basis.

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