Disclosure Insight: Legg Mason - Sweeping Generalizations Bury an SEC Investigation

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Disclosure Insight Report:  Legg Mason Inc. (LM) 

Sweeping Generalizations Bury an SEC Investigation

Confirmed, Undisclosed SEC Investigation – Maintained on Watch List.

Legg Mason is playing a game common among the financial companies:  The use of sweeping generalizations to bury a bunch of bad stuff in your filings.  To our view, it’s a sleaze-ball disclosure game aimed more at covering a company’s butt than disclosing anything of substance investors can use to assess what are, at times, very real risks to a company. 

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