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NRS 90.580

Manipulation of market

Known as the Uniform Securities Act

The act spans §§ 90–90 (122 sections).

Applied in 5 court decisions — leading case Nanopierce Technologies, Inc. v. Depository Trust & Clearing Corp. (2007)

Most recently applied in 898 F. Supp. 2d 673 - Prime Mover Capital Partners L.P. v. Elixir Gaming Technologies, Inc. (September 2012)

(Added to NRS by 1987, 2178; A 1989, 159; 2013, 176)

How often courts cite this section

20062010201210
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.

1. Without limiting the general applicability of NRS 90.570, a person shall not:

(a) Quote a fictitious price with respect to a security;

(b) Effect a transaction in a security which involves no change in the beneficial ownership of the security for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;

(c) Enter an order for the purchase of a security with the knowledge that an order of substantially the same size and at substantially the same time and price for the sale of the security has been or will be entered by or for the same or affiliated person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;

(d) Enter an order for the sale of a security with knowledge that an order of substantially the same size and at substantially the same time and price for the purchase of the security has been or will be entered by or for the same or affiliated person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;

(e) Employ any other deceptive or fraudulent device, scheme or artifice to manipulate the market in a security; or

(f) Put off, circulate or publish any false or misleading writing, statement or intelligence regarding a security that is publicly traded.

2. Transactions effected in compliance with, or conduct which does not violate, the applicable provisions of the Securities Exchange Act of 1934 and the rules and regulations of the Securities and Exchange Commission thereunder are not violations of subsection 1.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.