Company's undisclosed profit margin within the transaction fee for a covered security was not a material misrepresentation bearing on the decision to purchase the security; a class action suit for redress is therefore not barred from the state courts by federal securities law.
http://media.ca11.uscourts.gov/opinions/pub/files/201614144.pdf
Since 2011. An occasional commonplacing of the U.S. Circuit Courts of Appeal.
Neither an authoritative statement of the law nor legal advice. Quick work.