> As a jury consultant who's worked on a lot of securities and M&A-gone-wrong litigation Plaintiff- or defense side? > If I were a defendant accused of making

> As a jury consultant who's worked on a lot of securities and M&A-gone-wrong litigation Plaintiff- or defense side? > If I were a defendant accused of making misrepresentations, I'd most likely want the pitch deck kept out. That's never gonna happen (keeping it out), so good defense counsel will grasp the nettle and get out in front of the issue. Also (something I didn't mention before but should have): There's a jury-psychology benefit to being able to say, in effect, we submitted all this to the SEC, and they approved the registration. It's analogous to why patent applicants are well-advised to tell the USPTO about all the prior art that they know of — so that at trial, the patent owner's trial counsel can respond to the infringer's counsel with, yeah, we know about that prior art, because WE TOLD THE EXAMINER about it, and s/he issued the patent, so who ya gonna believe — this infringer's BS argument, or the government expert who was tasked by law with issuing only valid patents? That helps fend off infringers' invalidity challenges. > "Pitch deck stuff" is aspirational, to put it charitably. I perused the S-1; at first glance, that pitch-deck stuff is exactly what I imagine WeWork's litigation counsel might affirmatively want the judge, the judge's law clerk, and/or the jury to see — and, at trial, for an expert witness to be able to use as a visual aid in explaining the value proposition to the jury. (I've never done securities litigation, but I used to do IP litigation for complex technologies, where similar principles apply.) > A defendant could easily get it into evidence through a fact witness or PMQ. True, but again, it's always nice to be able to point out to the judge/law clerk/jury that this is what was disclosed to the SEC, and that the SEC approved the registration. Sure, legally that fact has very little weight; psychologically, though, it can't hurt and it costs essentially nothing. (You do have to make sure it's factually unchallengeable, but top-flight securities counsel will do their best to achieve that anyway.)