Forget That Whole Engagement Thing, Our Lawyers Set Communications Policy
Okay, maybe you can make more sense of this than I can.
The headline on the release says that Senetek (a life sciences company) is implementing a new corporate communications policy. The body of the release explains that "on advice from corporate counsel"--that ought to be a red flag right there--"all future communications from the company will be exclusively from press releases, SEC filings... and from shareholder teleconferences."
How does this even work? Does that mean that the CEO (for example) has been physically gagged, or simply that when he speaks to outsiders he is no longer speaking on behalf of the company? If a reporter calls with a question, is the head of corporate communications (assuming the company has one) forbidden to respond, or forced to respond by issuing a press release?
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