This is what you are missing. The race track was sized in 2009 they made the statement in 2011. Their law firm rpesented the race track company in bankruptcy court, yet wrote a legal opion that there were no misstatements in the report. That is fraud period, there is no defence and it does not matter if they never make another statement about the race track. You cannot make false statements to the public every, period. This should make you think about your statements.