651

It is unlawful for a person, in connection with the offer, sale, or purchase of security, directly or indirectly:\n(1) to employ a device, scheme, or artifice to defraud;\n(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 it is made, not misleading; or\n(3) to engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.