Which is the best definition of scienter?
A)A wrongful state of mind when making a misrepresentation.
B)A causal connection between a misstatement and a material loss.
C)A material omission of facts.
D)Fraudulent conduct in the purchase of a security.

Question

Quizplus · Accepted Answer

Scienter refers to the wrongful state of mind, such as intent or recklessness, when making a misrepresentation or omission of material fact in securities offerings. It refers to a person's knowledge or belief that their statement is false or misleading.

Which Is the Best Definition of Scienter