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ARTICLE · 08 APRIL 2019

Puffery About Regulatory Compliance Is Not A Material Misstatement

When the blog receives a case that is a bit off-center, involving odd facts or a different area of law, we grab it as our weekly writing assignment.

United StatesCriminal Law

When the blog receives a case that is a bit off-center, involving odd facts or a different area of law, we grab it as our weekly writing assignment. If it's a criminal matter, our claim is premised on our stint as a prosecutor. Today's case is a securities class action, permitting us to relive our days fending off shareholders' actions in the 1980s. Most of those actions were filed by a very, very famous, nay, infamous, plaintiff lawyer in SoCal who ended up in the hoosegow. Every time a company's stock price dropped, it seemed like this guy had a buddy who owned a couple of shares. His firm would tap a couple of computer keys and produce a class action complaint in minutes. The whole thing reeked of sleaze.

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