On September 28, 2016, the Securities and Exchange Commission sent the following letter to Fed Ex:

Based on information included in the letter, items discussed in class, and any other information you may find related to the case, please address the following questions:

A. (7) With regard to Items # 1 & 2, how might the items mentioned by the SEC impact investors’ assessment of the “Non-GAAP Measures” reported by FedEx?

B. (8) With regard to Item # 3, how might the item mentioned by the SEC impact an investors valuation of FedEx, assuming that investor draws upon the “Non-GAAP Measures”?

C. (5) Based on any evidence you may be able to find, does it appear that FedEx is willing to comply with the requests of the SEC?

D. (5) In your opinion, is the Securities and Exchange Commission being unduly strict with regard to FedEx? BRIEFLY (i.e. no more than, say, a half page) support your answer.

Answer rating: 100% (QA)

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