What are the arguments that the plaintiffs have satisfied the reliance requirement of Section 10(b) of the 1934 Act and Rule 10b-5?
ASSIGNMENT Basic, Inc., was a publicly traded company. Combustion Engineering, Inc., and Basic began discussions concerning the possibility of a merger of the two companies. During the next two years, Basic made three public statements denying that it was engaged in merger negotiations. In December of the second year, Basic publicly announced its approval of […]