Wednesday, March 30, 2011

Time Warner Tells the SEC About Charlie Sheen

Is Charlie Sheen winning, again? Outside of Goldman Sachs trading as a Primary Dealer opposite the Fed, no one has had a winning streak like this. Charlie just got an 8-K filed with the Securities and Exchange Commission about him.

Time Warner has reported Charlie's lawsuit against the firm. But the timing is curious. Normally, if an event is considered material by a company, it needs to be filed pronto with the SEC. But Charlie sued Time Warner weeks ago. Have Time Warner lawyers just concluded that Charlie, born small but now big, may prove to be the winner in the lawsuit?

Here's footnoted with further musings:
What we can’t figure out here at footnoted is why it took Time Warner this long to mention this in an 8-K. The company seems to be taking the position that it’s an “Other Event” that doesn’t have to be disclosed within the usual four-day window for most 8-Ks. But then why file it now? Or have Time Warner’s lawyers concluded that the lawsuit is a bigger deal than they previously thought?

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