In a remedial practice session, the fact pattern is framed this way. Focus on what changes once the scenario is viewed through state law. An investor purchased 500 shares of XYZ Corp at $20 per share based on fraudulent misrepresentations by her agent. She received $500 in dividends and later sold the shares at $12 per share. What is the maximum amount she can recover under the USA?

Why B — The difference between the purchase price plus interest and the sale proceeds, minus the $500 in dividends

Under USA Section 410(a), if the buyer no longer owns the security, the measure of damages is the purchase price plus interest from the date of purchase, minus income received on the security and minus the sale proceeds. The buyer recovers the net economic loss adjusted for interest and income. The governing USA principle is unchanged even though the framing is different.