[IP] Liability of phone companies [perhaps off-topic]
Begin forwarded message:
From: Chris Savage <chris.savage@xxxxxxxxxx>
Date: May 12, 2006 3:50:11 PM EDT
To: CYBERIA-L@xxxxxxxxxxxxxxxx
Subject: Re: [CYBERIA] Liability of phone companies [perhaps off-topic]
Reply-To: Law & Policy of Computer Communications <CYBERIA-
L@xxxxxxxxxxxxxxxx>
That's pretty interesting. I'm not a securities lawyer at all, but to a
first approximation I think it means that you can lie in your 10K if you
get permission from the feds.
Can anyone confirm/deny/correct/expand upon that?
That's a really creepy result if you believe in financial transparency
and efficient capital allocation.
Chris S.
<snip>
(b) Form of report; books, records, and internal accounting;
directives
(3)(A) With respect to matters concerning the national security of
the United States, no duty or liability under paragraph (2) of this
subsection shall be imposed upon any person acting in cooperation with
the head of any Federal department or agency responsible for such
matters if such act in cooperation with such head of a department or
agency was done upon the specific, written directive of the head of
such
department or agency pursuant to Presidential authority to issue such
directives.
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