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What Is Material Information?

Traders Magazine, April 2003

Nina Mehta

Materiality is a term of art. Companies must consider the facts in each situation separately, according to Deborah Meshulam, a partner at business law firm Piper Rudnick in Washington, D.C. Some events, such as a company's decision to merge with its biggest competitor, are clearly material. "Less obvious material calculations can relate to sales trends and things that could be significant in the future but may not be now," Meshulam told Traders Magazine. The Securities and Exchange Commissions left the definition of material information open.

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