Wednesday, April 20, 2011

Corporate Disclosure Statement per F.R.C.P. 7.1

This post on drafting the Corporate Disclosure Statement required by F.R.C.P. 7.1 is part of my Federal Litigation Checklist.
- F.R.C.P. 7.1 requires the filing of a disclosure statement by all nongovernmental corporate parties
- The filing requirement is simple:
  -- Identify any parent corporation
  -- Identify any publicly held corporation owning 10% or more of the party's stock
  -- Or, if no such parent or corporation holding 10% or more exists, say so
- The disclosure statement must be filed at the time of the first appearance or filing by the party, and must be updated "promptly" if any of the disclosed information changes
Thoughts & Best Practices:
- While the corporate disclosure statement may seem like a trivial administrative filing, it can have important ramifications.  For example, the failure to file a corporate disclosure statement may permit a parent company that should have been disclosed to be added after the deadline for adding parties.
Sample Corporate Disclosure Statement
Jeff Vail is a business litigation attorney in Denver, Colorado.  Visit for more information.
This post on filing a Corporate Disclosure Statement as required by F.R.C.P. 7.1 is part of my Federal Litigation Checklist approach to litigation knowledge management and litigation strategy.

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