Liability Provisions- 1933 Act Flashcards by Richard Jimenez | Brainscape

Q

What two elements must plaintiffs (must be purchasers) prove under Sec 11 of 1933 Act?

A

Material misstatement

- Damages

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Q

What are accountant defenses under Sec 11?

A

Due Diligence
Followed GAAP
Alternate causation
Plaintiff knew/no reliance

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