- “Every year, the SEC spends ~$14 million responding to 10,000+ FOIA requests. If the SEC responds to a FOIA request with a B7A exemption, that indicates the subject company is likely under an undisclosed SEC investigation, which is “associated with significant negative future abnormal returns.”
- “With FOIAsearch.com, you can easily find all past FOIA requests on a company and B7A investigation exemptions in a single search.“
- Source.
