This rather patent implication suggests more than a reckless disregard for the duty to disclose material facts to the investing public.
This is especially true given the legal implications in the areas of the duty to disclose for financial institutions contemplating a SCF transaction.
"One would definitely have thought" the company had a duty to disclose the news earlier, says Geoffrey Porges, a biotechnology analyst at Sanford C.
This point has been echoed by many of Goldman's defenders, who note that the firm has no duty to disclose the identity of counterparties to trades in which the firm stands in the middle.
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Moreover, is there a duty to disclose to the public whether the Shariah authorities chosen by a U.S. financial institution have ever issued authoritative rulings on matters that would implicate discrimination or violence against non-Muslims and non-Shariah-compliant Muslims?
Among the many reasons why we have the best legal system in the world is because we incorporate such humane rules as this: The law provides a duty to disclose and the employer cannot hide material facts without adverse consequences.
Scores of employees sued the two companies in the wake of the financial crisis, accusing Citi and McGraw Hill of violating a duty to disclose potential red flags for future performance by the stocks to the employees investing in them.
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While qualitative materiality is frowned upon by the courts and commentators because it renders the duty to disclose open to wholesale uncertainty about what must be disclosed in the first instance, the problem of disclosure for the Shariah-compliant financial institution is not circumscribed by this concern.
Insider trading theory has advanced from the time when the crime was limited to insiders who had some kind of duty not to disclose the information they possessed.
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As a senior partner at McKinsey, Kumar had insider information and a fiduciary duty not to disclose his knowledge.
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He could have provided complete copies of twenty years worth of returns or redacted copies, if there is information on the returns that he has a duty to not disclose.
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The fundamental basis for several lawsuits on behalf of NFL players is about the duty of the NFL and others who knew of problems with concussions, covered up those facts and failed to disclose what they knew or should have known about what concussions do to a player.
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