Which of the Following Statements Is True About Blue-Sky Laws

Which of the following statements is true about blue-sky laws?

A) They are state laws that provide penalties for fraudulent sales and permit the issuance of injunctions to protect investors from anticipated fraudulent acts.
B) They are state laws that give investors the information they need to make intelligent decisions about whether to purchase securities.
C) They provide civil penalties for selling fraudulent securities and conducting fraudulent transactions.
D) They give the bidder and the target company equal opportunities to present their cases to the shareholders.