Under the due diligence defense to a Section 11 action under the Securities Act of 1933:
A) Any defendant can assert a due diligence defense.
B) Any defendant except the issuer can assert a due diligence defense.
C) Existence of the defense will replace criminal liability with a lesser civil liability.
D) Only the issuer can assert a due diligence defense.
E) The due diligence defense must be asserted together by all defendants, or not at all.
B
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