Question

New Discoveries Corporation, and its officers, directors, and share­holders, buy and sell securities. Section 10(b) of the Securities Ex­change Act of 1934 applies to
a. only the purchase or sale of a security involving misappropriation.
b. only the purchase or sale of a security involving short-swing profits.
c. only the purchase or sale of a security involving a tipper and tippee.
d. the purchase or sale of any security.

Answer

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