A firm which opts to "go dark" in response to the Sarbanes-Oxley Act:
A) must continue to provide audited financial statements to the public.
B) must continue to provide a detailed list of internal control deficiencies on an annual basis.
C) can provide less information to its shareholders than it did prior to "going dark".
D) can continue publicly trading its stock but only on the exchange on which it was previously listed.
E) ceases to exist.

Question

Quizplus · Accepted Answer

"Going dark" refers to a public company's decision to stop filing regular reports with the Securities and Exchange Commission (SEC), effectively becoming private. By doing so, the company can provide less information to its shareholders than it did prior to going dark. However, it is important to note that going dark does not absolve the company from continuing to follow applicable laws and regulations, including financial reporting requirements to its remaining shareholders.

A Firm Which Opts to "Go Dark" in Response to the Sarbanes-Oxley