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A UK nomad takes a US company public on the Alternative Investment M a rket (AIM) and is sued in the US by an investor under the anti-fraud provisions of Section 10(b) of the US Securities Exchange Act of 1934 and Rule 10b-5 thereunder. In the complaint, the investor alleges that the admission document failed to include an expert’s warning that the oil exploration project might result in a dry well. Has this ever happened? Not to the best of the author’s knowledge. Could it happen? It absolutely could.

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