Decision Diagnostics Corp (DECN)

[IPwatcher]

If this actually goes to trial, Berman has to try to argue that he did not lie about GenViro’s progress in the 2020 PRs, which will be very entertaining

I think he may be misunderstanding where the bar is set!

As CEO he had a fiduciary duty to his shareholders to be honest with them.
A defense that its possible that one or more statements he made might be open to a given interpretation in such a manner which is not actually factually inaccurate is simply not an adequate defense.

His duty was to inform shareholders honestly and not to mislead them.
The statements made were deliberate and clearly served to mislead shareholders as per the actuality that existed at the time - as it subsequently emerged.
Furthermore, his failure to advise shareholders of the actual real status of the Genviro development status (or lack of) in a timely and honest manner was of itself grossly delinquent in terms of what shareholders had a right to expect from him and his office - to the extent of being fraudulent.

That of itself - deliberate as it was - i.e. a failure to correct a false impression that he simply allowed to be created and persist without correction (let alone created, fostered and actively promoted himself)- would be more than adequate to meet the burden of proof for fraud.

Splitting hairs over the semantics of the meaning of individual words in PRs is simply not going to cut it as a meaningful defense and is a waste of everyone's time, which I am sure is something the judge will factor in come sentencing!

This case is prima facie open and shut. Fraud and false and misleading statements apparent for all to see quite readily!