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A statement about the future is actionable under Rule 10b-5 only if it was false when stated.
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Contributed in 2008 by David Gold
Law
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Commerce, labor, particular activities & industries
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Securities
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Liability & enforcement
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Fraud claims
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SEC Rule 10b-5
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Substance
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Liability
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Primary
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Types of claims (by types of wrongs)
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Misstatement/omission claims (10b-5(b))
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Elements
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Individual elements
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Material Misstatement or Omission
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Misstatement or Omission
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No liability w/o misstatement or omission
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Facts misstated or omitted
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About the future
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No fraud by hindsight
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Only if false when stated: A statement about the...

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