From Longman Business Dictionarymaterial factmaˌterialˈfact noun1[countable]INSURANCE any fact which, by law, you must tell an insurance company when you buy insurance from them2[countable]FINANCE any fact which, by law, a company must tell people when a document giving information about a new SHARE ISSUE is producedThe company failed to disclose (=make known) material facts about its operations and financial position.3[countable, uncountable]LAW any information provided by a WITNESS during a COURT CASE that could affect the decision of the courtIt is a crime to falsify or hide a material fact.
