Inland American SEC Investigation Disclosure
On Tuesday, May 8, 2012, we emailed the Inland American quarterly update. In the First Quarter 10Q filing, we disclosed that the SEC is conducting a non-public, formal, fact-finding investigation of Inland American. We encourage you to read the entire disclosure here: Inland American First Quarter 2012 10-Q
We believe it is important to note that:
- Inland American has not been accused of any wrong-doing, and is fully cooperating with the SEC.
- Inland American does not believe it has done anything wrong.
- This is a confidential investigation, so we are not able to say anything other than what is in the filing.
- Many companies do not disclose investigations this early in the investigative process. Inland American, however, has chosen to disclose the existence of this investigation at this time.
Ouch, what a prickly email. Inland American's initial backdoor disclosure (as if people weren't going to read the 10-Q) and now this pithy, defensive notice is starting to look like a textbook case of how a slow, reactive response blows up a brand. Inland American and its parent company need to hire a crisis PR firm immediately.