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Showing results for tags 'need guidance on disclosure requirements'.
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A non-publicly traded company that is owned 30% by the ESOP and 70% by the founder is being sold. According to the Plan, Participants are entitled to direct the Trustee to vote their share of company stock in the case of a sale of substantially all assets of the business, so it would seem that the sale must be disclosed sooner rather than later. What does that disclosure consist of? At this stage, we are reluctant to provide more detail than we need to.