Patriot Scientific

Section 409 of Srbanes-Oxley 15 U.S.C. 78(m)(l) requires public companies to disclose "on a rapid and current basis" material information regarding changes in the company's financial condition or operations as the SEC by rule determines to be necessary or useful for the protection of investors or in the public interest. (Bolded for emphasis) (Updated disclosure requirements to form 8K filings.)

I know someone stated that the SEC respects the NDA relating to settlement figures - I think it was Ron or Milestone. However, I think one might be able to make an argument that the numbers should have been disclosed in order to protect shareholders - since everyone is assuming the figures are poor.