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Corporations Keyed to Hazen
In re Donald J. Trump
Citation:
7 F.3d 357 (3d Cir. 1993)Facts
The parties dispute over the question whether the plaintiffs have failed to state an actionable claim regarding the statement that the partnership believed it could repay the bonds. The district court, in applying the “bespeaks caution” doctrine followed the lead of a number of courts of appeals which have dismissed securities fraud claims because cautionary language in the offering document negated the materiality of an alleged misrepresentation or omission.
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