Forget about what a lawyer has told you. Quote me some regulation. Preferably SEC regulation. The judge will examine this not your lawyers view. The lawyer presents the case it's the judge who decides if the regulations have been breached. Quote some details or test cases or go home.
Sigh. I give up. I'll just forget entirely what the professionals tell me shall I.
Yes you should. Or you should consider their advice for what it is. That's how lawyers make a very fine living. For every court case there is a side that loses. Yet each side has a lawyer on it telling you you will win.
Show us the SEC regulation. Here is where you start:
http://www.sec.gov/about/laws/secrulesregs.htm