Miles Guo Court Documents · Doc 387
Letter Reply by USA as to Miles Guo re: Motion to Preclude the Introduction of Certain Improper and Inadmissible Evidence / (中文)
摘要
Government Reply · Motion to Preclude Defense Evidence (Litvak Issue)
This two-page letter, dated July 1, 2024 from the Assistant U.S. Attorneys, briefly replies to one aspect of the defense's same-day opposition (case-doc-386) to the government's motion (case-doc-385) to preclude certain defense witness testimony in United States v. Guo, S3 23 Cr. 118 (AT).
Specific Issue Addressed: Litvak
The reply focuses on the defense's reliance throughout trial on United States v. Litvak as justification for inquiries into the sophistication of and diligence done by investors in the defendant's investment opportunities. The government argues:
- Litvak stands for the narrow proposition that "a 'misstatement in a securities transaction is material so long as there is a substantial likelihood that a reasonable investor would find the . . . misrepresentation important in making an investment'";
- The case does not authorize wholesale exploration of individual investor sophistication as a defense theme;
- The defense's continued reliance on Litvak for that broader proposition is misplaced.