Which of the following is true about Section 11 of the 1933 Act?
A. Under Section 11, the purchaser has the burden of proving that he or she exercised due diligence.
B. The defendant can escape liability if the purchaser did not read the registration statement.
C. To prove liability, a purchaser only has to prove that the defendant is in one of the three classes of persons liable under Section 11.
D. Directors who are not signers are not liable for false information after purchase of the security.
Answer: C
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