Disclosure Statement
/dɪsˈkloʊʒər ˈsteɪtmənt/
Definitions
- (n.) A document providing detailed information about financial, legal, or material facts, required by law or regulation to inform parties in a transaction or proceeding.
The company filed a disclosure statement to comply with securities regulations.
- (n.) In bankruptcy law, a statement detailing the debtor’s financial affairs and proposed plans for debt repayment to assist creditors and the court.
The debtor submitted a disclosure statement outlining the repayment plan during the bankruptcy proceedings.
Forms
- disclosure statements
Related terms
See also
Commentary
Use clear, precise language in drafting to ensure all material facts are fully and accurately disclosed; this helps prevent claims of omission or misrepresentation.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.