Securities Fraud Claims Survive First Motion to Dismiss
New Analysis for "Ultimate Authority"
Deceptive Conduct Survives Janus and Stoneridge
Future Effect of Janus
What is to happen when guilty management writes a prospectus (for the board) containing materially false statements and fools both board and public into believing they are true? Apparently under the majority's rule, in such circumstances no one could be found to have "ma[d]e" a materially false statement — even though under the common law the managers would likely have been guilty or liable (in analogous circumstances) for doing so as principals (and not as aiders and abettors).
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