Cfo Resignation and News Release by Fakey Inc.

CFO Resignation and News Release by Fakey Inc.

Grace Gallagher

University of Phoenix

COM 530

Mark Busby

April 26, 2010

| Fakey Inc. |

Memo

To: Bob Marley, President & CEO

From: Grace Gallagher CPA

CC: John Bob, Vice President; Jose George, Vice President Investor Relations

Date: [ 4/26/2010 ]

Re: Resignation of Sally Jones, CFO and upcoming news release.

In light of the sudden resignation of Sally Jones, Fakey Inc.’s Chief Financial Officer, some questions have started to arise among employees, directors, and shareholders. As we are a publicly traded company, there are some regulations we must adhere to; set forth by the Securities and Exchange Commission.

Legally, Fakey Inc. is required to file form 8-K with the SEC within four business days from the date Sally Jones submitted her resignation. Under Item 5.02, if a director or officer has resigned or refuses to stand for re-election, Fakey Inc. must disclose the following:

1. The date of the resignation

2. The position held by the officer

3. A description of the circumstances that are believed to be the cause of the resignation.

4. A copy of the resignation letter or correspondence from the officer that resigned if it exists (United States Securities and Exchange Commission, 2010).

Fakey Inc. must also provide Sally with a copy of the disclosures that are being filed with the SEC. Additionally, Fakey Inc. must provide Sally with the opportunity to agree or disagree via written communication within a timely manner. If any is received within the given time frame, Fakey Inc. is required to file all written communication with the SEC. When Fakey Inc. appoints a new CFO; this must also be filed with the SEC.

Although filing with the SEC is the only legal obligation Fakey Inc. is required to fulfill, it would be socially wise to submit a news release in light of recent events. Fakey Inc. has an obligation to both internal and external publics to communicate the sudden...