Can an attorney be held liable for failing to disclose material information in a prospectus?
MultiRegion, United States of America
The following excerpt is from Narducci v. Neighbor, 907 F.2d 155 (9th Cir. 1990):
Most recently, in Courtney v. Waring, 237 Cal.Rptr. 233 (1987), a California court of appeals held that an attorney may be held liable for failing to disclose material information in a prospectus which he has prepared for the purpose of inducing prospective investors to purchase franchises from his client. The court held that
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