states and local jurisdictions that represent a large por tion of IACT’s hotel revenue. In addition, IACT continues to engage in a dialog with and receive feedback from certain state and local tax authorities. IAC will continue to monitor the issue closely and provide additional disclosure, as well as adjust the level of reserves, as developments warrant. The reserve balance at December 31, 2003 is $13.2 million as compared to $10.4 million at December 31, 2002. (Form 10-K, at 69 (Mar. 15, 2004).) Because IAC repeatedly warned the public that taxing authorities could force IAC to pay back taxes or pay more taxes in the future, further disclosure would not have “significantly altered the total mix of information made a off v. Duane Reade, Inc., 107 Fed.Appx. 250, 252 (2d Cir.2004) (<HOLDING>). Finally, it is worth noting that IAC Travel’s
holding that nyseg telling its investors that it would not compromise its financial integrity was not actionable under the securities laws holding that puffery is not actionable under the securities laws holding that misrepresentations about present state of mind are actionable as fraud holding fugitive past allowable time period under state law is actionable under section 1983 holding that accurate statements about past performance are not actionable under the securities laws