"if they hit nothing, it's not material" (source: 73163003), incorrect, of course "hitting nothing" would be material. And according to the law material news can influence a person to "acquire or dispose" (source: https://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s677.html CORPORATIONS ACT 2001 - SECT 677)
Which definition are you using to suggest that results which reveal "nothing" is immaterial?
"if they hit nothing, it's not material" (source: 73163003),...
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