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Phony-Pharma, Inc. was involved in a lawsuit because their financial statement disclosures in year 20x1 predicted that one of their new drugs was on track
Phony-Pharma, Inc. was involved in a lawsuit because their financial statement disclosures in year 20x1 predicted that one of their new drugs was on track to receive FDA approval much within the next calendar year. The FDA approval was not final until 20x4. Phony-Pharma was charged with securities fraud and in 20x6 the trial judge found the pharmaceutical company guilty of misleading investors. What bias would have been the most likely influence on the judge in the case (assuming that there was bias present)?
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