Detailed Answer
(d) A tombstone advertisement is allowed to inform
potential investors that a prospectus for the given company is
available. It is not an offer to sell or the solicitation of an offer to
buy the securities. Answer (a) is incorrect because the tombstone
ad informs potential purchasers of the prospectus and cannot
be used as a substitute for the prospectus. Answer (b) is
incorrect because it informs of the availability of the prospectus
and cannot be construed as an offer to sell securities. Answer (c)
is incorrect because the tombstone ad notifies potential purchasers
of the prospectus. It does not notify that the securities have
been withdrawn from the market.
