What Types of Misstatements or Omissions are Typically Involved in Fraud Cases? - Transcript
That are typically found in fraud cases are those that are material to your investment decision so a lot of people think oh he said XYZ or she said XYZ that was totally false and that may be true and it may be false and it’s wrong to say false things but a fraud case requires that some materiality that what they told you related to the investment that it somehow caused you to make the decision to invest you reasonably relied on that misstatement and it caused you damages so while one could say that there are a number of smaller misrepresentations maybe not as material that put together would be material they said they moved they went to the same College as me they said they knew my sister before she passed they said XYZ and so there could be a number of things that were inspired to create trust that should not have been given but generally a fraud case it has to be there has to be a fraudulent misstatement or an Omission so they say something that’s true but they owe me to say something else that is material to know along with the true fact and that’s what fraud cases are really made of.