What Are Defective Securities and Proprietary Investment Cases? - Transcript
So defective Securities are securities that are not appropriate for anyone so there are securities that the way that they were structured or the models used to test them did not work and these Investments were sold under false theories so in its in essence they’re fraud cases but what you’re saying is is the fraud is that the company knew that these Securities would not operate in the manner in which they were designed to operate and the manner in which they were sold to investors so that is what a defective Securities product is.