A proposed accounting rule that would require companies to disclose financial loss contingencies, including those from lawsuits, is drawing criticism from the corporate defense bar. The Financial Accounting Standards Board in July proposed requiring companies to disclose to investors certain potential future losses, including those resulting from litigation. But major law firms are sounding alarms about the proposed rules, which they say could put their corporate clients at a disadvantage in lawsuits.
September 22, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A proposed accounting rule that would require companies to disclose financial loss contingencies, including those from lawsuits, is drawing criticism from the corporate defense bar.
The Financial Accounting Standards Board in July proposed requiring companies to disclose to investors certain potential future losses, including those resulting from litigation.
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