Rose v. Texas

Does a public filing of financial information pertinent to the sale of securities give investors constructive notice of the information?

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Rose was the president of a small oil and gas company. He was convicted for securities fraud relating to the sale of limited partnership interests in an oil well venture without disclosing to investors that the equipment and land were encumbered. Rose appealed, claiming that because the encumbrances were matters of public record, the investors had constructive notice.

The case and case summary are also available online at: http://www.mlmlegal.com/legal-cases/Rose_v_Texas.php

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Published In: Criminal Law Updates, MLM / Direct Sales Updates, MLM Consulting / Network Marketing Updates, Securities Updates

Reference Info:State, 5th Circuit, Texas | United States

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