Quote:
Originally posted by sgtclub
Sure it was material, but the question is whether it is or should be actionable under 10b-5.
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I agree that it should not be actionable. However, if that is the case, they filed motions to dismiss on that charge and the judge let the charge stand. It seems to me that by blocking the expert testimony, it is just a backdoor way to dismiss the charge. If the judge thinks that the charge is not properly brought under the statute, he should have dismissed it when they filed their motion for dismissal.
But maybe Bilmore is right and the issue is that the jury should determine this and having expert testimony is unlikely to be helpful to the jury.
