Documents revealing the nature and scope of a business relationship in a period after the pleaded acts of reliance may be indirectly relevant for discovery purposes under the Peruvian Guano test, where they could support an inference that the relationship during the relevant period was not materially different. In fiduciary duty claims alleging conflict of interest, discovery should address both conflict of duty and duty, and conflict of duty and interest, as these are distinct allegations requiring separate consideration of relevance.
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