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Minn. Stat. § 80A.68

SECTION 501; GENERAL FRAUD.

Known as the Minnesota Securities Act

The act spans §§ 80A.40 to 80A.91 (52 sections).

Applied in 3 court decisions — leading case In re National Century Financial Enterprises, Inc., Investment Litigation (2012)

Most recently applied in In re Medtronic, Inc. Shareholder Litigation (August 2017)

2006 c 196 art 1 s 28,52

How often courts cite this section

2012201710
citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

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

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

(2) to make an untrue statement of a material fact or to omit to state a material fact necessary in order to make a statement made, in the light of the circumstances under which it is made, not misleading; or

(3) to engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.

Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.