"Before, we struggled more with fake luxury goods," Moon Moo-il, a prosecutor who is leading a crackdown on document misrepresentation at the prosecutor general's office, said at the time.
"The league management at the time, including Aaron Davidson, made material misrepresentations and omissions regarding the integrity of the league and its financial hygiene".
HP took an $8.8bn impairment charge in November 2012 for its purchase of Autonomy just over a year earlier, with more than $5bn of that linked to what HP said at the time were "serious accounting improprieties, misrepresentation and disclosure failures".
Less than two weeks later, Tchenguiz – who at the time was pursuing a claim, since dropped, for "fraudulent misrepresentation" against Kaupthing – removed Investec as trustees.
The Strengthening Canadian Citizenship Act, brought in under the previous Conservative administration and slammed by the Liberals at the time as "dictatorial," means people accused of fraud or misrepresentation can lose their citizenship without so much as a hearing.
Terra Firma accuses Citi of making fraudulent misrepresentations – allegedly by three then-senior Citi bankers, including David Wormsley, who remains at the bank but at the time was head of UK banking.
Plaintiffs lawyers are circling with the predictable shareholder lawsuits, many complaining of "material misrepresentations" and "false assurances" made by InterCept about iBill's dependence on porn (a press release at the time of the acquisition benignly referred to iBill's clientele as "Web merchants," while management claimed that adult sites represented less than 10% of iBill's transactions).
"Citigroup acknowledged it made serious misrepresentations to the public — including the investing public — about the mortgage loans it securitized," a DOJ press release said at the time.
Such a misrepresentation might even be cause to strip someone's green card or citizenship, if they did not disclose it at the time they applied for changing their immigration status, Leopold said.
Replied Mr Tourre: "It just wasn't accurate at the time".Ultimately, the verdict will hinge on whether the jury believes the clients were victims of clever misrepresentation, or their own inability to make basic inferences.
