# 6 Del. C. § 73-201: § Â 73-201. Employment of manipulative and deceptive devices

> Delaware · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-201

## Section

- **Citation:** 6 Del. C. § 73-201
- **Heading:** § Â 73-201. Employment of manipulative and deceptive devices
- **Jurisdiction:** Delaware
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Delaware Code / Title 6 / Chapter 73 / Subchapter II / Section 73-201

## Text

It is unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly:

(1) To employ any device, scheme or artifice to defraud;

(2) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or

(3) To engage in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person.

In interpreting this section, courts will be guided by the interpretations given by federal courts to similar language set forth in § 17(a) of the Securities Act of 1933 [15 U.S.C. § 77q] and Rule 10b-5 [17 C.F.R. § 240.10b-5] promulgated under the Securities Exchange Act of 1934, to include, without limitation, any difference in pleading requirements governing actions brought by securities regulators as opposed to private litigants.

## Nearby sections

- [6 Del. C. § 73-201 § Â
        73-201. Employment of manipulative and deceptive devices.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-201.md)
- [6 Del. C. § 73-202 § Â
        73-202. Registration of and notice filing for securities.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-202.md)
- [6 Del. C. § 73-203 § Â
        73-203. Registration of securities by coordination.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-203.md)
- [6 Del. C. § 73-204 § Â
        73-204. Registration of securities by qualification.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-204.md)
- [6 Del. C. § 73-205 § Â
        73-205. Provisions applicable to registration of securities generally.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-205.md)
- [6 Del. C. § 73-206 § Â
        73-206. Stop orders.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-206.md)
- [6 Del. C. § 73-207 § Â
        73-207. Exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-207.md)
- [6 Del. C. § 73-208 § Â
        73-208. Federal covered securities.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-208.md)
- [6 Del. C. § 73-210 § Â
        73-210. Unlawful representations concerning registration, notice filing or exemption.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-210.md)
- [6 Del. C. § 73-211 § Â
        73-211. Filing of sales and advertising literature.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-211.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_DE_T6_C73_SII_S73-201. Check the current official text before relying on it. Not legal advice.