Archive: https://archive.today/lT1nq From the post: "I say this a lot but it keeps being true: Every bad thing that a public company does, and every bad thing that happens to a public company, is also securities fraud. The general form of this is something bad happens and the company does not immediately disclose it, or has not adequately warned shareholders of the risk of it happening, or both. Later, when the bad news comes out, the company’s stock drops. Shareholders who bought the stock before the news came out sue, saying that they were deceived about the bad thing and lost money. The US Securities and Exchange Commission also takes an interest in fraud and might bring an enforcement action."