Forward-looking forecasts that turn out to be wrong can be protected against liability for securities fraud if they include "meaningful cautionary statements."

Meaningful Cautionary Statements

Communications that provide important warnings or advisements to prevent harm or misuse of a product or service.

Forward-Looking Forecasts

Predictive statements or projections about future events, typically concerning a company's revenues, earnings, or growth prospects.

Securities Fraud

Illegal practices involving the manipulation or misrepresentation of information related to investments, intended to deceive investors.