Cal. Code Regs. Tit. 10, § 260.216 - Fraud and Misrepresentation
The phrase "manipulative, deceptive, or other fraudulent scheme, device, or contrivance," as used in subdivision (a) of Section 25216 of the Code is hereby defined to include:
(a) Any act, practice, or course of business
which operates or would operate as a fraud or deceit upon any person;
and
(b) Any untrue statement of a
material fact and any omission to state a material fact necessary in order to
make the statements made, in the light of the circumstances under which they
are made, not misleading, if the person making the statement or omission knows
or has reasonable grounds to believe that it is untrue or misleading.
Notes
Note: Authority cited: Sections 25216(a) and 25610, Corporations Code. Reference: Section 25216, Corporations Code.
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