I think part of the idea is between reporting requirements & articulated statements about what goes into that reporting, by failing to report or failing to live up to those goals, you get to use the existing teeth (and defenses) associated with investment fraud. For any constructable issue rather than just purely quarterly financials, you can hold the company to account, and protect decisions that might be for some new goal in their bylaws [but also might appear against an immediate short-term financial gain].

My insight from watching Eric give a talk about the exchange:

https://longnow.org/seminars/02020/feb/24/long-term-stock-ex...