In connection with the offer to sell, sale, offer to purchase or purchase of a security, a person shall not, directly or indirectly: 1. Employ any device, scheme or artifice to defraud; 2. Make an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made not misleading in the light of the circumstances under which they are made; or 3. Engage in an act, practice or course of business which operates or would operate as a fraud or deceit upon a person.
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