A tsunami of negative feedback from legal executives and groups has prompted the Financial Accounting Standards Board (FASB) to again delay implementing rules requiring financial statement disclosures of lawsuits and other loss contingencies.

The board, which sets U.S. accounting rules, decided on Oct. 27 to delay its “Disclosure of Certain Loss Contingencies” rules. The rules would have applied to public company financial reports for fiscal years that ended after Dec. 15.