Case Facts, are to be organized utilizing the IRAC format.

The written presentations, based upon the assigned Case Facts, are to be organized utilizing the IRAC format. Order Description The grade is based on your ability to grammatically, cogently, and persuasively : I- Identify the legally significant issues. R-State the applicable substantive rules (law), based on appropriate research. A- Analyze how the law applies to the facts of the Case problem. C- Stating your conclusion, based on the law and your analysis. Case Facts # 13 Due Nov. 29. 2theMart.com, was conceived in January 2009 to launch an auction Web site to compete with eBay, Inc. On January 19, 2theMart announced that its Web site was in its “final development” stages and expected to be active by the end of July as a “preeminent” auction site, and that the company had “retained the services of leading Web site design and architecture consultant to design and construct” the site. Based on the announcement, investors rushed to buy 2theMart’s stock, causing a rapid increase in the price. On February 3, 2theMart entered into an agreement with IBM to take preliminary steps to plan the site. Three weeks later, 2theMart announced that the site was “currently in final development.” On June 1, 2theMart signed a contract with IBM to design, build, and test the site with a target delivery date of October 8. When 2theMart’s site did not debut as announced, Mary Harrington and others who had bought the stock filed a suit in a federal district court against the firm’s officers, alleging violation of the Securities Exchange Act of 1934. The defendants responded, in part that any alleged misrepresentation were not material and asked the court to dismiss the suit. How should the court rule and why?