Holidays

By Cydney Posner

Please be aware that Inauguration Day, January 20, 2009, will be a holiday for federal employees in the D.C. vicinity, including the SEC. However, since inauguration day is not a nationwide federal holiday, it has typically been considered a normal "business day" for counting purposes. In the past, the EDGAR system has been available during normal business hours, albeit with a very reduced level of support services. The filing desk will be closed.

On a similar topic, Corporate Counsel reports that this Friday, the 26th, has been declared a holiday for the US government, and will not be considered a business day for deadline purposes. With regard to the 20 business days required for a tender offer, Corporate Counsel reports the staff's position that if the offer is ongoing, you can still count the unscheduled Friday holiday in the 20 days. However, the offer should not end or commence on Friday.

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