Nev. Rev. Stat. » NRS: CHAPTER 90 - SECURITIES (UNIFORM ACT)

Nev. Rev. Stat. § 90.580

Manipulation of market

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NRS 90.580  Manipulation of market.

      1.  Without limiting the general applicability of NRS 90.570, a person shall not:

      (a) Quote a fictitious price with respect to a security;

      (b) Effect a transaction in a security which involves no change in the beneficial ownership of the security for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;

      (c) Enter an order for the purchase of a security with the knowledge that an order of substantially the same size and at substantially the same time and price for the sale of the security has been or will be entered by or for the same or affiliated person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;

      (d) Enter an order for the sale of a security with knowledge that an order of substantially the same size and at substantially the same time and price for the purchase of the security has been or will be entered by or for the same or affiliated person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;

      (e) Employ any other deceptive or fraudulent device, scheme or artifice to manipulate the market in a security; or

      (f) Put off, circulate or publish any false or misleading writing, statement or intelligence regarding a security that is publicly traded.

      2.  Transactions effected in compliance with, or conduct which does not violate, the applicable provisions of the Securities Exchange Act of 1934 and the rules and regulations of the Securities and Exchange Commission thereunder are not violations of subsection 1.

      (Added to NRS by 1987, 2178; A 1989, 159; 2013, 176)

     

Notes of Decisions
Cited in 3 cases, 2006–2008 · leading case: Nanopierce Technologies, Inc. v. Depository Trust & Clearing Corp.
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Nanopierce Technologies, Inc. v. Depository Trust & Clearing Corp. (2007) nev · cites it 4× “060, market manipulation in violation of NRS 90.580, conversion, intentional interference with contractual relations, breach of the implied covenant of good faith and fair dealing, and conspiracy.”
West v. Innotrac Corp. (2006) nvd “660(1) (material untrue statements in relation to the sale of a security), NRS 90.580 and NRS 90.660(3) (manipulation of the market), and NRS 90.”
Whistler Investment v. the Depository Trust (2008) ca9 “Whistler raises six additional claims: market manipulation, in violation of Nev. Rev. Stat. §§ 90.580 and 90.”
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