Are there cases where gpg --verify will exit 0, even if verification failed?

[Patrick Schleizer]

In another thread...

Werner Koch
> On Mon, 12 Jan 2015 19:52, patrick-
>> When it exits 0, then this approach is sound, sane and fine?
> You better check the status lines; in particular watch out for
> 
>   [GNUPG:] VALIDSIG E4B868C8F90C.....
> 
> or use gpgv.

Are there cases where gpg --verify will exit 0, even if verification failed?

(Suppose one uses a separate --homedir where only legitimate signing
keys are imported.)