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How does this translate over to things like fashion/social trends in general? Something like "Corsets are coming back for spring 2018! Get on top of the trend
by jakear 9y ago
How does this translate over to things like fashion/social trends in general?
Something like "Corsets are coming back for spring 2018! Get on top of the trend at XYZ Fash Inc.!" hardly seems like fraud, but by that definition it would be.
- pcwalton 9y agoThis is where a lawyer would have to answer. I'm certain that a detailed explanation would involve a mountain of cases and precedents. (I would guess that a lot of the precedent hinges on whether you are intentionally lying, or whether you are merely making a good-faith prediction. Pump-and-dump schemes are obviously the former.) The point is that, in general, deception for financial gain is fraud, more or less by definition. It doesn't have to involve regulated securities.