Sales and Purchases

It is unlawful for any person in connection with the offer, sale, or purchase of any security, directly or indirectly,

(1)to employ any device, scheme, or artifice to defraud.

(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

(3)to engage in any act, practice, or course of business which operates, or would operate, as a fraud or deceit upon any person.