Privity of Contract Is Irrelevant in Lawsuits Based on Section

question 9

True/False

Privity of contract is irrelevant in lawsuits based on Section 10(b)and Rule 10b-5 of the Securities Exchange Act of 1934.

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Definitions:

Employer Duties

Refers to the responsibilities and obligations an employer has towards their employees, including providing a safe working environment and paying wages.

Securities Act

Legislation enacted to ensure more transparency in financial statements so investors can make informed decisions about investments.

Exchange Commission

A regulatory body responsible for overseeing and regulating securities exchanges to protect investors and ensure fair, efficient, and transparent markets.

Tombstone Advertisement

A print advertisement in a format similar to that of a tombstone that announces a forthcoming sale of securities.