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That has got to be the dumbest law I've ever heard of. Anyone understand the details of why it was implemented? It sounds like a knee-jerk reaction to the stock market crash...



which law? the original one, or the one that facebook got an exemption from?


Under the Securities & Exchange Act of 1934, a private company must start disclosing financial results publicly once it has more than 500 stockholders and $10 million in assets.

That one.




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