Black Friday “hyperbole”

November 29, 2013

  • 349B Securities Regulation
  • 349BI Federal Regulation
  • 349BI(C) Trading and Markets
  • 349BI(C)7 Fraud and Manipulation
  • 349Bk60.43 Grounds of and Defenses to Liability
  • 349Bk60.46 k. Materiality of Violation.

349B Securities RegulationExecutive vice president’s statements during interview with television network that customers were already lining up at their stores and that company’s television sales were “going really strong” were not material so as to be actionable under 1934 Act or Rule 10b-5; interview was given before the “Black Friday” weekend and was hyperbole.
IBEW Local 98 Pension Fund v. Best Buy Co., Inc., 2013 WL 3982629 (D. Minn. Aug. 5, 2013)