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460:false:false:false:false:false:false:true:false:false:!464!:false:-1:-1
Potential sources of a defendant's duty to disclose material facts.
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Contributed in 2008 by David Gold
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Omission liabilty rests on duty to disclose
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Potential sources of duty: Potential sources of...
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Contribution Suggestions
vouch for authority for rule...
In order to satisfy the requirement, in an insider trading claim under Rule 10b-5 based on a misappropriation theory, that the defendant owed a...SEC v. Lyon, 605 F. Supp. 2d 531, 546 (S.D.N.Y. 2009).
in support of
In order to satisfy the requirement, in an insider trading claim under Rule 10b-5 based on a misappropriation theory, that the defendant owed a duty to the insider who was the source of the information, the plaintiff must show either that the defendant expressly accepted a duty or that the defendant and the insider had a relationship that implied a duty.vouch for authority for rule...
Whether a financial statement was or was not in accordance with GAAP is not determinative as to whether it was false or misleading.See Ezra Charitable Trust v. Tyco International, 466 F.3d 1, 10 (1st Cir. 2006) (affirming dismissal for failure to plead scienter).
in support of
Whether a financial statement was or was not in accordance with GAAP is not determinative as to whether it was false or misleading.vouch for authority for rule...
Reliance on counsel is a relevant factor in evaluating a defendant's scienter.Dolphin & Bradbury, Inc. v. SEC, 512 F.3d 634, 642 (D.C. Cir. 2008) (holding that defendant underwriter's reliance on counsel did not negate scienter as to his failure to disclose material fact because he had an independent duty to disclose, did not disclose the fact to his counsel, and did not receive...
in support of
Reliance on counsel is a relevant factor in evaluating a defendant's scienter.