{"data":{"id":"us-ca/corp-25401","jurisdiction":"us-ca","citation":"CORP § 25401","heading":"","body":"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.","path":["Corporations Code - CORP","TITLE 4. SECURITIES [25000. - 31528.]","DIVISION 1. CORPORATE SECURITIES LAW OF 1968 [25000. - 25707.]","PART 5. FRAUDULENT AND PROHIBITED PRACTICES [25400. - 25404.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"78297b5da770ee8387d5c6b1ddbd152aa655176388e5e18e832c29102949ef9b","source_id":"us-ca","stale":false,"prev":"us-ca/corp-25400","next":"us-ca/corp-25402"},"notice":"GroundRules: Original legal text. Not legal advice."}