Which of the following is not a requirement in order to recover damages under Section 10b)of the Securities Exchange Act of 1934 and the corresponding SEC Rule 10b-5?

Question

Quizplus · Accepted Answer

A)To recover damages under Section 10b)and the corresponding SEC Rule 10b-5,
a buyer or seller of a security must prove each of the following six elements: 1)status as purchaser or seller privity not required);2)scienter;3)fraudulent act or deception;4)reliance on the fraudulent statement;5)statement in regard to a material fact;and 6)reliance on the statement as the cause of the plaintiff's loss.
B)To recover damages under Section 10b)and the corresponding SEC Rule 10b-5,a buyer or seller of a security must prove each of the following six elements: 1)status as purchaser or seller privity not required);2)scienter;3)fraudulent act or deception;4)reliance on the fraudulent statement;5)statement in regard to a material fact;and 6)reliance on the statement as the cause of the plaintiff's loss.

Which of the Following Is Not a Requirement in Order