'Goldman Sachs', Part I: The Supreme Court, Aspirational Statements and Inflation-Maintenance
Part One a two-part article begins with a review of the fundamentals of reliance and "fraud on the market," and then set forth the high court's latest views of same, as elucidated in 'Arkansas Teacher'. Part Two will then exposit 'Goldman', and the trial court's application of that fresh guidance to the controversy at hand.
February 01, 2022 at 10:45 AM
8 minute read
It is now a commonplace for publicly traded corporations to include in their regulatory filings, annual reports, and assorted communiques so-called "aspirational statements," proclamations memorializing the company's deep commitment to transacting business with honesty and integrity, while observing the highest ethics. While critics deride the practice as, at best, merely stating the obvious, and, at worse, disingenuous self-congratulation (and they might have a point), most do no more than mildly applaud such public declarations of fealty to good corporate citizenship.
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