Basic city services may include sanitation (both sewer and refuse), water, streets, the public library, schools, food inspection, fire department, police, ambulance, and other health department issues and transportation.
For action brought under Section 10(b)
1.)There was a material misrepresentation or omission
2.) The plaintiff suffered damages
<span>3.) The plaintiff relied on the fraudulent statement and </span>
4.) existence of scienter
<span>Both 10(b) and 10b-5 cover registered and unregistered securities, and not just original issuances.</span>
