Under rule 10b-5, it is unlawful for any person, directly or indirectly, by the use of any means of interstate commerce or the mails to:
  1. employ any device to defraud
  2. make any untrue statement of a material fact or omit to state a material fact necessary to make statements not misleading
  3. engage in anything that operates or would operate as a fraud or deceit upon any person

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