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The term scienter means: a. knowledge on the part of the seller that a misstatement has been made b. intentional deception on the part of
The term "scienter" means:
a. knowledge on the part of the seller that a misstatement has been made
b. intentional deception on the part of the seller to knowingly defraud the buyer
c. reliance by the investor on the misstatement
d. the casual relationship between reliance and subsequent loss
e. all the above are required
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