Fait V. Regions: A Matter Of Fact Or Opinion?

Law360, New York (September 29, 2011, 2:05 PM EDT) -- A common debate in securities fraud cases is whether the statement that forms the basis for the plaintiff’s claim should be classified as an opinion or a statement of fact. Claims based on opinions present a much more substantial hurdle for plaintiffs on a motion to dismiss. Accordingly, plaintiffs frequently turn to a company’s accounting and financial statements as a basis for claims, contending that statements in the financials are statements of fact, not opinion. A recent decision from the Second Circuit speaks to this issue....
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