Русско-англо-русский юридический словарь

The Disclosure of All Material Facts Rule. Although the limited offering exemption does not contain any specific requirements relating to the disclosure of specific facts to shareholders, it is illegal ""to offer or sell a security in this state or buy or offer to buy a security in this state by means of any written or oral communication which includes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading. (Cal. Corp. Code § 25401.)" (How to Form Your Own California Corporation)