Back in April 2013, the SEC said OK, fine. You can post materially important information about your company on social media as long as you make the public aware that this stuff might wind up there. This was after Netflix Chief Executive Officer Reed Hastings made comments on Facebook about the company’s viewership levels, and it created a bit of a buzz.
Business Wire is considering whether to encourage corporations that distribute press releases through its service to delay sending announcements until a few minutes after 4 p.m. New York time, reducing the odds of altering their stock’s closing price.
Billionaire Sheldon Adelson’s Sands China Ltd. fell the most in three weeks after investor Waddell & Reed sold a $1.38 billion stake and moved its position to the Macau casino operator’s parent company.
Business Wire, the unit of Warren Buffett’s Berkshire Hathaway Inc. that distributes press releases, rehired Serena Ehrlich to bolster social-media offerings as more clients turn to alternative outlets.