The Commercial Division of the New York Supreme Court has recently had opportunities to consider such claims and have analyzed when, and to what extent, a term sheet is binding and enforceable, write contributors Thomas J. Hall and Judith A. Archer.
Read the full New York Law Journal article, "The enforceability of term sheets: Commercial Division weighs in."
Publication
The US Supreme Court has ruled that a “pure omission” under Item 303 of Securities and Exchange Commission Regulation S–K cannot give rise to a private action for securities fraud under Section 10(b) and Rule 10b-5(b) of the Securities Exchange Act of 1934.
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