On Monday, the Comelec First Division canceled Cardema's nomination to represent his group for material misrepresentation
'I have sent a memorandum to initiate an investigation on the probability that Ronald Cardema may have committed a criminal offense of material misrepresentation
by stating under oath in his certificate of nomination that he is qualified to be representative of the youth sector,' Guanzon said in a press briefing.
'Considering that nowhere is it stated in the primary purpose that Yeheey is authorized to engage in the selling or offering for sale of securities to the public, the activity of Yeheey of selling or offering for sale of investments is considered an ultra vires act and, therefore, constitute serious misrepresentation
,' the agency said.
Trana's negligent misrepresentation
claim stems from the 2009 report that identified two compounds as inactive in CEM cell testing even though those compounds were found to show some antiviral activity in PBMC testing.
This means that anything that anyone says on your behalf can leas to a finding of misrepresentation
- Every person who knowingly counsels, induces, aids or abets or attempts to counsel, induce, aid or abet any person to directly or indirectly misrepresent or withhold material facts relating to a relevant matter that induces or could induce an error in the administration of this Act is guilty of an offence.
The court also found the cause of action for negligent misrepresentation
was deficient "because the representation was made to the lender, not the [Tindells].
United States Court of Appeals for the Second Circuit Life insurance policy Misrepresentation
Materiality Principal National Life Insurance Co.
Under New York Insurance Law, an insurance company may contest a life insurance claim made during the "two-year contestable period" only if the insurer establishes that there was a material misrepresentation
on an application for life insurance to induce the insurer to issue the life insurance policy.
An insurer may be able to ask the beneficiaries to get the medical records if there is some evidence of material misrepresentation
, state officials say in the circular letter.
Specifically, the Court held that if defendants can show that a security's price was not in fact distorted by the alleged misrepresentation--that is, the alleged misrepresentation
had no price impact--then the fraud-on-the-market presumption would be rebutted.