{"data":{"id":"us-de/6-del.-c.-73-201","jurisdiction":"us-de","citation":"6 Del. C. § 73-201","heading":"Employment of manipulative and deceptive devices.","body":"It is unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly:\n(1) To employ any device, scheme or artifice to defraud;\n(2) To make any untrue statement of a material fact or to omit 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; or\n(3) To engage in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person.\nIn interpreting this section, courts will be guided by the interpretations given by federal courts to similar language set forth in § 17(a) of the Securities Act of 1933 [15 U.S.C. § 77q] and Rule 10b-5 [17 C.F.R. § 240.10b-5] promulgated under the Securities Exchange Act of 1934, to include, without limitation, any difference in pleading requirements governing actions brought by securities regulators as opposed to private litigants.","path":["Title 6. Commerce and Trade","SUBTITLE IV","Commercial Development","CHAPTER 73. Securities Act","Subchapter II. Provisions Relating to the Offer, Sale, and Purchase of Securities"],"source_url":"https://delcode.delaware.gov/title6/c073/sc02/index.html#73-201","current_through":"2026-08-10 (85 Del. Laws, c. 421, 424)","vintage":"","retrieved_at":"2026-09-05T23:02:08Z","sha256":"1931c659de98508c7c37373625103f4561368315f1875d0a3151748ffc1f3688","source_id":"us-de","stale":true,"prev":"us-de/6-del.-c.-73-104","next":"us-de/6-del.-c.-73-202"},"notice":"GroundRules: Original legal text. Not legal advice."}