Va. Code » Title 13.1. Corporations » Chapter 5. Securities Act » Article 2. Unlawful Practices
Virginia Code

Va. Code Ann. § 13.1-502 (2026)

Unlawful offers and sales

✓ current as of May 2026
Find cases: SyfertCases citing this section VA-LISlaw.lis.virginia.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

It shall be unlawful for any person in the offer or sale of any securities, directly or indirectly,

(1) To employ any device, scheme or artifice to defraud, or

(2) To obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or

(3) To engage in any transaction, practice or course of business which operates or would operate as a fraud or deceit upon the purchaser.

1956, c. 428.

Notes of Decisions
Cited in 29 cases (2 in the last 5 years), 1962–2025 · leading case: Maneval v. Davis (In Re Davis), 155 B.R. 123 (Bankr. E.D. Va. 1993).
Sort: Relevance Newest Treatment
Maneval v. Davis (In Re Davis), 155 B.R. 123 (Bankr. E.D. Va. 1993). · cites it 31× “) Va.Code § 13.1-502 (Repl.Vol.1989). The SCC found L.”
Tanner v. State Corp. Comm'n, 574 S.E.2d 525 (Va. 2003). · cites it 14× “3 Code § 13.1-502 states, in pertinent part, the following: It shall be unlawful for any person in the offer or sale of any securities, directly or indirectly, (2) To obtain money or property by means of any untrue statement of a material fact or any omission to state a material…”
Ascher v. Commonwealth, 408 S.E.2d 906 (Va. Ct. App. 1991). · cites it 6× “*1127 She contended at trial that her agreement was not a conspiracy because it was not an agreement to do an illegal act in violation of Code § 13.1-502. She argued that the notes were not securities and, even if they were, she and the others did not intend or employ a scheme…”
Carlucci v. Han, 907 F. Supp. 2d 709 (E.D. Va. 2012). · cites it 4× “Section 13.1-502 prohibits selling securities by means of an untrue statement or omission of a material fact.”
Poth v. Russey, 281 F. Supp. 2d 814 (E.D. Va. 2003). · cites it 4× “Va.Code Ann. § 13.1-502 (West 2002) (emphasis added).”
FS Photo, Inc. v. PictureVision, Inc., 61 F. Supp. 2d 473 (E.D. Va. 1999). · cites it 4× “Va.Code § 13.1-502. 10 . Because the language of Virginia Code, § 13.”
Lintz v. Gulf Partners Ltd., 613 F. Supp. 543 (W.D. Va. 1985). · cites it 2× “Code § 13.1-502, § 13.1-522(a)(l) and (2). 7 There are also alleged violations of the statutory aiding and abetting provisions.”
Pyott-Boone Elec. Inc. v. IRR Trust for Fetterolf Dated December 9, 1997, 918 F. Supp. 2d 532 (W.D. Va. 2013). · cites it 2× “Compare Va.Code Ann. §§ 13.1-502 and 13.1-522 (2011) with Del.”
Am. Gen. Ins. v. Equitable Gen. Corp., 493 F. Supp. 721 (E.D. Va. 1980). “1-522(a) of the Virginia Securities Act provides as follows: Any person who: (1) Sells a security in violation of § 13.1-502, § 13.2-504(a), § 13.1-507, § 13.”
Cors v. Langham, 683 F. Supp. 1056 (E.D. Va. 1988). · cites it 2× “1-504, as well as those for securities fraud, Va.Code Ann. § 13.1-502, it is not surprising that the General Assembly should decide that the accrual of the cause of action should take place at the time of the underlying transaction.”
Vill. Lane Rentals, LLC v. Capital Fin. Grp., 159 F. Supp. 2d 910 (W.D. Va. 2001). · cites it 2× “1 Ob-5), Section 20(a) of the Exchange Act, Section 11 of the Securities Act, Section 12(1) of the Securities Act, Section 12(2) of the Securities Act, Section 15 of the Securities Act, Virginia Code § 13.1-502, and Virginia Code § 13 .”
King v. Donnkenny, Inc., 84 F. Supp. 2d 736 (W.D. Va. 2000). · cites it 2× “Thus, even if there were a heightened pleading requirement for wrongful termination claims brought before this court, the Plaintiff would nonetheless survive this motion.”
Show all 29 citing cases →
— Va. Code Ann. § 13.1-502(1) — 1 case
Maneval v. Davis (In Re Davis), 155 B.R. 123 (Bankr. E.D. Va. 1993). “) Va.Code § 13.1-502 (Repl.Vol.1989). The SCC found L.”
— Va. Code Ann. § 13.1-502(2) — 4 cases
Tanner v. State Corp. Comm'n, 574 S.E.2d 525 (Va. 2003). “3 Code § 13.1-502 states, in pertinent part, the following: It shall be unlawful for any person in the offer or sale of any securities, directly or indirectly, (2) To obtain money or property by means of any untrue statement of a material fact or any omission to state a material…”
Maneval v. Davis (In Re Davis), 155 B.R. 123 (Bankr. E.D. Va. 1993). “) Va.Code § 13.1-502 (Repl.Vol.1989). The SCC found L.”
Poth v. Russey, 281 F. Supp. 2d 814 (E.D. Va. 2003). “Va.Code Ann. § 13.1-502 (West 2002) (emphasis added).”
Patel v. DAB Inspection & Consulting Servs. LLC (E.D. Va. 2025).
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.