You bought shares in a company and follow the company’s reports on performance. What happens when the company decides to stop reporting a statistic you thought was valuable? Why did they really drop it and what can you do, other than sell?
“Twitter Goes Off Message,” Wall Street Journal, April 29, 2015 C12. Twitter stock drops 18% on bigger-than-expected losses.
Leaving aside for now how the earnings information got leaked early (was it tweeted?), buried in the piece was the info that Twitter dropped reporting of “timeline views” as no longer relevant. As the Journal says, “it didn’t offer investors a substitute.”
The company has decided to stop reporting certain information to its shareholders. Is that, by itself, useful information? What obligations do the directors and company management have to share information with the shareholders?
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