a. Any person who makes, or is responsible for another making, orally or in writing an untrue statement of material fact or omits to state that material fact, if it causes another person to be misled in relation to the sale or the purchase of a Security, shall be liable for compensation of the damages. For establishing responsibility for damages in pursuance of the provisions of this Article, it is not required that a relationship exists between the claimant and the defendant and the claimant should prove:
- 1. That he was not aware that the statement was omitted or untrue.
- 2. That either he would not have purchased or sold the Security in question had he known that information was omitted or untrue, or that he would not have purchased or sold such Security at the price at which such Security was purchased or sold.
- 3. That the person responsible for the disclosure of the statements or the giving of such incorrect information knew of the said untruthfulness or was aware that there was a substantial likelihood that the information disclosed omitted or misstated a material fact.
b. The damages recoverable under this Article from any defendant, and the rights of indemnity and contribution among the persons responsible shall be as provided in paragraph (e) of Article 55 of this Law.
c. For the purpose of this Article, a statement or omission shall be considered related to an important material fact in accordance with the standard provided for in paragraph (a) of Article 55 of this Law.