The officers of OL Inc. recently met several times with officers of MacDaddy, Inc., a New York Stock Exchange traded company, to discuss the possibility of a merger between the two companies. OL's quarterly analyst phone call is scheduled for the end of next week. In anticipation of being asked whether OL has been having merger discussions with MacDaddy, the directors have prepared a statement that OL "currently is not engaged in merger negotiations." Based on theBasic v. Levinsoncase, would this statement be advisable? Would Regulation FD apply? Would you recommend that the directors say something different?