Disclosure of Price-sensitive Information: What Effect Do &#145;Intermediate Steps&#146; Have on the Statutory Disclosure Date?

Peer Schauburg-Müller

Disclosure of Price-sensitive Information: What Effect Do ‘Intermediate Steps’ Have on the Statutory Disclosure Date? - European Company Law View Disclosure of Price-sensitive Information: What Effect Do ‘Intermediate Steps’ Have on the Statutory Disclosure Date? by - European Company Law Disclosure of Price-sensitive Information: What Effect Do ‘Intermediate Steps’ Have on the Statutory Disclosure Date? 10 1

On the basis of the European Court's judgment in the Daimler case, this article analyses the effect of a series of intermediate steps leading up to a price-sensitive event which is subject to public disclosure on the date on which that duty is triggered. Such intermediate steps have a greater effect than has previously been generally assumed, and intermediate steps over a prolonged period may have the effect of bringing the date of disclosure forward.

European Company Law