Perhaps we should say the meeting has been delayed by the US Securities and Exchange Commission. Radio One says it has to delay the meeting to respond to questions from the SEC.
“Radio One, Inc. announced that it is delaying its previously announced 2009 annual shareholders’ meeting. The meeting will no longer be held on September 17, 2009. As noted in its Form 10-Q for the period ended June 30, 2009, the Company recently received comment letters from the United States Securities and Exchange Commission (the “SEC”) regarding certain disclosures made in its Form 10-K/A for the year ended December 31, 2008 and the Company’s Preliminary Proxy Statement. In order to allow sufficient time for the Company to respond to these comments, and make any necessary amendments to the proxy statement and 10-K/A, the Company has decided to delay the annual meeting.
The SEC periodically reviews filings made under the Securities Act of 1933 and the Securities Exchange Act of 1934 to monitor and enhance compliance with the applicable disclosure and accounting requirements. As required by the Sarbanes-Oxley Act of 2002, the SEC undertakes some level of review of each reporting company at least once every three years.
The Company will announce the new date for the 2009 annual shareholders’ meeting shortly after resolution of the comments and once the Company’s Board of Directors sets the new meeting date,” Radio One announced.
Just what is the SEC looking at? Here’s what the company said about the SEC letters in its quarterly 10-Q filing: “The United States Securities and Exchange Commission (the “SEC”) periodically reviews filings made under the Securities Act of 1933 and the Securities Exchange Act of 1934 to monitor and enhance compliance with the applicable disclosure and accounting requirements. As required by the Sarbanes-Oxley Act of 2002, the SEC undertakes some level of review of each reporting company at least once every three years.
On August 6, 2009, the Company received two letters from the SEC regarding certain disclosures made in its Form 10-K/A for the year ended December 31, 2008 filed March 16, 2009, as amended April 30, 2009, Forms 10-Q for the quarterly period ended March 31, 2009 and the Company’s Preliminary Proxy Statement (the “Reviewed Company Filings”). The letter indicates that the SEC has reviewed the Reviewed Company Filings and suggests certain revisions to the Reviewed Company Filings (the “Comments”). The Company is reviewing the Comments and will respond to the SEC accordingly.”
