Affiliated Ute Citizens v. United States
Citation
406 U.S. 128 (1972)
Facts
Stub — to be completed.
Issue
Stub — to be completed.
Holding
Stub — to be completed.
Rule
In omission-based fraud cases, positive proof of reliance is not required; a rebuttable presumption of reliance arises when the defendant had a duty to disclose and failed to do so.
Significance
Created the Affiliated Ute presumption of reliance for omission cases under Rule 10b-5.