Under What Circumstances Will Reliance Be Presumed for Purposes of Establishing

Under what circumstances will reliance be presumed for purposes of establishing liability under Rule 10b-5?

A) If the investor shows that the defendant made a public material misrepresentation that would have caused reasonable investors to misjudge the value of the defendant's stock.
B) If the investor shows that (1) the defendant made a public material misrepresentation that would have caused reasonable investors to misjudge the value of the defendant's stock and (2) the investor traded shares of the defendant's stock in an open securities market after the misrepresentations were made and before the truth was revealed.
C) If the investor shows that (1) the defendant made a public material misrepresentation that would have caused reasonable investors to misjudge the value of the defendant's stock, (2) the investor traded shares of the defendant's stock in an open securities market after the misrepresentations were made and before the truth was revealed, and (3) the investor made specific inquiries from professionals regarding the value of the stock before trading.
D) If the investor shows that (1) the defendant made a public material or nonmaterial misrepresentation that would have caused reasonable investors to misjudge the value of the defendant's stock, (2) the investor traded shares of the defendant's stock in an open securities market after the misrepresentations were made and before the truth was revealed, and (3) the investor made specific inquiries from professionals regarding the value of the stock before trading.