https://www.taxtmi.com/caselaws?id=96648 A document inviting the public to subscribe for shares is a prospectus if it falls within the statutory definition, and liability for misleading or untrue statements attaches to directors and persons authorising the issue. That liability under the compensation provision is not limited by separate filing or registration requirements, and a defendant cannot avoid responsibility by relying on non-compliance with those requirements. On that basis, the plaintiff succeeded on the prospectus claim, the defendant was held liable under the statute, and the trial decree was restored with costs. en-us Wed, 02 May 1934 00:00:00 +0530 Tue, 10 Jan 2012 10:51:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96648 A document inviting the public to subscribe for shares is a prospectus if it falls within the statutory definition, and liability for misleading or untrue statements attaches to directors and persons authorising the issue. That liability under the compensation provision is not limited by separate filing or registration requirements, and a defendant cannot avoid responsibility by relying on non-compliance with those requirements. On that basis, the plaintiff succeeded on the prospectus claim, the defendant was held liable under the statute, and the trial decree was restored with costs. Case-Laws Companies Law Wed, 02 May 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96648