Any Food PR folks on the board that can translate the following
I received an email from a pr firm about the opening of a restaurant in Austin where I live.
At the end of the basic, here's where we're going to open, here's why you should come eat here....was the following:
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," and "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
Scary bunch of gobbledygood.
What does this mean?
It means: What we're saying we think might happen or be expected to happen, might not happen because these are optimistic assumptions, but we're under no obligation to update this statement to reflect reality as it unfolds. Invest at your own risk.
P.S. I'm not in PR.
that "forward-looking statement" is usually found attached to corporate earnings projections or to stock prospecti for new companies looking for investors. It's weird to see it attached to an announcement of a restaurant opening!
My guess is that it's a boilerplate blurb that is put into *all* exterior communications sent out by this PR agency.
Caitlin's interpretation is hilariously accurate.
I've also heard it interpreted as "we really have no idea what these guys are yakking about. As far as we know, they are pulling it out of their ass, but we don't have the time or desire to do the fact-checking, so we just print this so you don't sue US when it becomes apparent that they were making it all up and they don't really know what the hell they're doing."
It's the equivalent of a "Safe Harbor": A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
It doesn't mean anything to you as a diner, really. It's just a disclaimer aimed at investors, when a company is saying anything about its future that might be interpreted as a promise. It does indicate that the restaurant is owned by a publicly traded company, and that might tell you something about what kind of restaurant it is (not chef-owned, that's for sure).
It means that if you are considering investing in this restaurant, you should review the company's filings at the SEC for yourself.
As others have noted, it is the Safe Harbor statement that is required by the Securities and Exchange Commission to be presented before all earnings reports and general communications by companies listed on stock exchanges in the US.
It is nonsensical for this language to appear on a restaurant's pre-opening press release, unless the restaurant is a publicly listed company and they are trying to get you to invest in it, rather than just eat there!