Under Rule 10b-5,any use of the mails is sufficient to satisfy the interstate commerce condition even if the mail does not leave the state.

Question

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Rule 10b-5 applies to securities fraud and covers any use of the mails or any means or instrumentality of interstate commerce, which includes communication over the internet, telephone, and other methods. The use of the mails can satisfy the interstate commerce condition even if the mail does not leave the state.

Under Rule 10b-5,any Use of the Mails Is Sufficient to Satisfy