2nd Circ. Says 1st Circ.'s Materiality Test Is Unsound

By Cara Mannion ( June 21, 2017, 6:19 PM EDT) -- The Second Circuit on Wednesday declined to adopt the First Circuit's standard for assessing the materiality of companies' alleged omissions in their interim financial information, saying its sister court's test can be "analytically counterproductive" and unsound....

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