Companies trading on the NASDAQ may know that the press release review process should include an inquiry to see if the information release requires prior alert to NASDAQ Market Surveillance (MarketWatch) if the information involves any of the events set forth in IM-4120-1.
Such events include announcements on earnings, and events that need to be reported on a Form 8-K. The prior alert is necessary in order to permit assessment of the news disclosure for materiality and, in certain situations, implement temporary trading halts to allow for even dissemination of material news. The alert procedure is found in NASDAQ Stock Market Rules 4310(c)(16) and 4320(e)(14).
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