On the recordMarch 8, 1995
What he has done is not made up language. The language is from the latest expression of the courts, the U.S. District Court for the Southern District of New York, interpreting the Supreme Court decision in Hochfelder, and what the court said in that case, and I quote: When the defendant deliberately failed to acquire the information that would have indicated to her that statements were false or misleading, that constituted recklessness. That is the exact language the gentleman has presented to us today in this amendment. In quotes, ``The defendant deliberately refrained from taking steps to discover whether their statements were false or misleading constitutes recklessness,'' which is an exact statement of what the court said, not what the gentleman from California said.
Source
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