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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 fact in question is found by the court to have been material pursuant ...
Giglio v. United States, 405 U.S. 150 (1972), is a United States Supreme Court case in which the Court held that the prosecution's failure to inform the jury that a witness had been promised not to be prosecuted in exchange for his testimony was a failure to fulfill the duty to present all material evidence to the jury, and constituted a violation of due process, requiring a new trial. [1]
A material fact is a fact that a reasonable person would recognize as relevant to a decision to be made, as distinguished from an insignificant, trivial, or unimportant detail. In other words, it is a fact, the suppression of which would reasonably result in a different decision.
In the case of TSC Industries, Inc. v. Northway, Inc., [6] the word "material" was defined by the U.S. Supreme Court - "an omitted fact is material if there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote." There are four elements of materiality laid out in TSC: a fact must assume ...
He formulated the test as follows: an omitted fact is material if there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote. In other words, the court must determine whether under all the circumstances, the omitted fact would have assumed actual significance in the decision of the ...
A material issue/fact is one that has the potential of affecting the outcome of the case/issue in dispute (judgment in favor of one party over the other). Of cardinal importance here is that, by design, the judge had no discretion at summary judgment time: all fact-finding is done by the jury at trial, not by the judge at summary judgment (the ...
Carter v Boehm (1766) 3 Burr 1905 is a landmark English contract law case, in which Lord Mansfield established the duty of utmost good faith or uberrimae fidei in insurance contracts. Facts [ edit ]
Case law: In the 2009 case of Fitzroy Robinson Ltd. v Mentmore Towers Ltd., a statement became untrue and fraudulently misrepresented when a named member of staff, put forward by the developer Fitzroy Robinson as leader of the team who would work on a development project for Mentmore Towers, resigned from the company.