Not disclosing when you have an obligation to disclose is sufficient to establish intent. Businesses disclose all sorts of obscure risks because of this in thei

Not disclosing when you have an obligation to disclose is sufficient to establish intent. Businesses disclose all sorts of obscure risks because of this in their SEC filings: earthquakes, health risks, pirate attacks (real ones), terrorism, etc. Disclosures are simply required when some criteria are met. "Having your ducks in a row" or "being able to explain what happened" is not what determines whether a public disclosure is required. If a failure to disclose results in shareholders losing money they will sue and the business will have a bad time.