15 U.S.C. § 77w : US Code - Section 77W: Unlawful representations

Search 15 U.S.C. § 77w : US Code - Section 77W: Unlawful representations

Neither the fact that the registration statement for a security
has been filed or is in effect nor the fact that a stop order is
not in effect with respect thereto shall be deemed a finding by the
Commission that the registration statement is true and accurate on
its face or that it does not contain an untrue statement of fact or
omit to state a material fact, or be held to mean that the
Commission has in any way passed upon the merits of, or given
approval to, such security. It shall be unlawful to make, or cause
to be made to any prospective purchaser any representation contrary
to the foregoing provisions of this section.