SIMPLIFY! SEC WANTS LESS LEGAL JARGON IN COMPANY PROSPECTUSES

When the makers of Samuel Adams beer, the Boston Beer Co., offered shares directly to consumers last year through coupons in its six-packs, it knew it had to make the offering documents simple enough for the average beer drinker to understand. But by the time the lawyers finished filing the prospectus with legal jargon to fend off potential lawsuits, some of the most important information was either hard to find or difficult to understand.