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Question
In Case 41.1, SEC v. Texas Gulf Sulfur Co., the U.S. Court of Appeals for the Second Circuit held thata. Texas Gulf Sulfur failed to comply with the SEC regulations for the registration of a stock offering.
b. Rule 10b-5 did not require Texas Gulf Sulfur to disclose a dividend change to the public.
c. Texas Gulf Sulfur failed to disclose a contract for the sale of corporate assets in violation of Rule 10b-5.
d. Rule 10b-5 required Texas Gulf Sulfur to disclose preliminary test mining results to the public.
Answer
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