§ 25401
71 words·~1 min read·
/ca/corporations-code/25401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is unlawful for any person to offer or sell a security in this state, or to buy or offer to buy a security in this state, by means of any written or oral communication that includes an untrue statement of a material fact or omits to state a material fact necessary to make the statements made, in the light of the circumstances under which the statements were made, not misleading.