The term misrepresentation, or the prohibited conduct, act,
or practice that constitutes misrepresentation by a person subject
to the provisions of these sections, is defined as any one of the
following acts or omissions:
(1) any untrue statement of a material fact;
(2) any omission to state a material fact necessary
to make the statements made (considered in the light of the circumstances
under which they are made) not misleading;
(3) the making of any statement in such manner or order
as to mislead a reasonably prudent person to a false conclusion of
a material fact;
(4) any material misstatement of law; or
(5) any failure to disclose any matter required by
law to be disclosed, including failure to make disclosures in accordance
with the provisions of these sections and other applicable rules.
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