US-CA9 · jury_instructions
9th Cir. Model Jury Instr. (Civil) 18.3
Securities—Misrepresentations or Omissions—Materiality
The plaintiff [name] must prove by a preponderance of the evidence that the defendant [name]’s misrepresentation or omission was material. A factual representation concerning a security is material if there is a substantial likelihood a reasonable investor would consider the fact important in deciding whether to buy or sell that security. An omission concerning a security is material if a reasonable investor would have regarded what was not disclosed to [him] [her] [other pronoun] as having significantly altered the total mix of information [he] [she] [other pronoun] took into account in deciding whether to buy or sell the security.
You must decide whether something was material based on the circumstances as they existed at the time of the statement or omission.
Provenance
- Source
- ce9.uscourts.gov
- Retrieved
- 2026-08-20
- Edition
- 2026-08-20
- Content hash
8f5ed59259b41f593e885ec8883a979f73c633d3cbd7ce147804d4717a39b273
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