August 19, 2010
On August 18, 2010, the Financial Accounting Standards Board ("FASB") announced that it is extending by 30 days to September 20, 2010 the deadline for comments on the FASB’s proposed amendments to the U.S. accounting standards governing the disclosure of loss contingencies, including litigation-related contingencies. Given the broad scope of the FASB’s proposed modifications and the challenges they would pose to financial statement preparers, we encourage companies who have not already commented on the proposal to submit comments by the new deadline.
For additional information on the FASB’s proposal, see our July 21, 2010 client alert, available here. The full text of the FASB’s proposal is available here.
Gibson, Dunn & Crutcher’s lawyers are available to assist in addressing any questions you may have regarding these issues. To learn more about the firm’s Securities Regulation and Corporate Governance Practice, please contact the Gibson Dunn attorney with whom you work, or any of the following:
John F. Olson – Washington, D.C. (202-955-8522, [email protected])
Brian J. Lane – Washington, D.C. (202-887-3646, [email protected])
Ronald O. Mueller – Washington, D.C. (202-955-8671, [email protected])
Lewis H. Ferguson – Washington, D.C. (202-955-8249, [email protected])
Amy L. Goodman – Washington, D.C. (202-955-8653, [email protected])
Michael J. Scanlon – Washington, D.C. (202-887-3668, [email protected])
James J. Moloney – Orange County (949-451-4343, [email protected])
Elizabeth Ising – Washington, D.C. (202-955-8287, [email protected])
© 2010 Gibson, Dunn & Crutcher LLP, 333 South Grand Avenue, Los Angeles, CA 90071
Attorney Advertising: The enclosed materials have been prepared for general informational purposes only and are not intended as legal advice.