[DugFin]

Indeed, Martha Stewart is a prime example of how NOT to deal with the SEC. Turns out she wasn't guilty of insider trading, but she still went to jail for lying to the SEC about the trades in the first place. They take that very seriously.

[stickfigure]

This particular example seems to reinforce the argument for saying nothing at all.

[simonh]

Directors of companies have legal responsibilities to provide these reports to the government. So instead of the company getting a fine for making a mistake even though you tried to comply, now you are personally choosing not to fulfil your legal obligations as a director. Smart move.

[Confusion]

And run the risk of losing big, instead of knowing for sure you'll lose small. Can you get a good estimation of the risk? If not, can you (not your company: you) afford the big loss?