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In this regard, it is similar to the accounting term of the same name. Materiality is particularly important in the context of securities law, because under the Securities Exchange Act of 1934, a company can be held civilly or criminally liable for false, misleading, or omitted statements of fact in proxy statements and other documents, if the ...
The two facts which National omitted with respect to the fairness of the transaction were the statements of an investment banking firm involved in the deal and the purchase of National's stock by a mutual fund. The investment bank rendered an opinion that the high redemption price of National's stock was a substantial premium over the current ...
Blackmun reviewed the standards of materiality, including the holding in TSC Industries, Inc. v. Northway, Inc., that "an omitted fact is material if there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote." [4] This standard was then expressly adopted for § 10(b) and Rule 10b-5.
Materiality (digital text), refers to the physical medium used to store and convey the text; Materiality (law), a legal term that has different meanings depending on context; Materiality (social sciences and humanities), the notion that the physical properties of a cultural artifact have consequences for how the object is used
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.
The company said it had hired a law firm to oversee an independent probe into allegations Shaw engaged in behavior inconsistent with the company's code of ethics and policy.
Since "planning materiality" should affect the scope of both tests of controls and substantive tests, such differences might be of importance. Two different auditors auditing even the same entity might generate differing scopes of audit procedures, solely based on the "planning materiality" definition used.
Year Merger closed Acquirer Acquired firm Name of merged entity 1931 Harriman Brothers & Company: Brown Bros. & Co. Brown Brothers Harriman & Co.