Series 79: Misrepresentation Based On Information Available To Purchaser At Time Of Contract Of Sale (Rule 159)

Misrepresentation Based on Information Available to Purchaser at Time of Contract of Sale (Rule 159)

Rule 159 provides a caveat to Section 12 (discussed previously) and Section 17 (discussed later). In both cases, the rule provides that, in determining whether a prospectus or oral statement (in the case of Section 12) or a statement (in the case of Section 17) includes a material misrepresentation or omission, information provided to the purchaser only after the time of sale will not