Richard has a business and needs capital for expansion. He decides to sell an interest in his business to public investors to raise capital. He realizes that his company's performance may not be attractive to most investors, so he alters his financial statements to drastically inflate its apparent profits. Richard sells shares of his business to investors for a total of $100,000. In doing so, he fails to follow federal and state securities filing and disclosure laws. If the Securities and Exchange Commission brings a civil action against Richard, is this an example of public or private law? Is it a public or private action if the investors bring a legal action against Richard to recover their invested funds