Quote:
Originally Posted by Mark17
As a legal matter, is Orlando required to be 100% truthful on a call like this? In other words, if this thing ends up in some sort of litigation, and if there is testimony involving who knew what, and when... IF Joe was being less than truthful when stating he had no knowledge of the allegations mentioned, could he have possibly put himself in legal jeopardy?
I know that managers of simple LLCs are required to reveal any inside information they are aware of, that could negatively impact the value of the LLC.
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Securities fraud suits very frequently feature statements by executives/answers to questions on analyst calls among the alleged false and misleading statements. That said, the statement/answer would have to be material, and I doubt that this particular answer could be deemed material.
Nonetheless, it's hard for me to believe PSA is not monitoring developments and that nobody told Joe that two former graders have been accused of trimming cards. Or maybe they are so arrogant they don't even monitor?
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