It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly:(1) to employ a device, scheme, or artifice to defraud;(2) to make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statement made, in the light of the circumstances under which they were made, not misleading; or(3) to engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.As added by P.L.27-2007, SEC.23.
Indiana Legal Code