Fast Auditors prepared audited financial statements for Mega Company's registration statement in compliance with the 1933 Securities Act. John bought stock in Mega Company. It was discovered that the financial statements prepared for the registration
statement contained some important omissions. John sued Fast Auditors to recover his investment when Mega Company turned out to be a bad investment. What must John prove to recover from Fast Auditors?
To prevail under Section 11 of the 1933 Act, John must prove only that the registration statement contained a material misstatement or omission, and he lost money.
You might also like to view...
Which of the following would be considered a stationary source?
A. a locomotive B. an automobile C. a factory D. All of these are correct.
Define stress and describe at least four sources of stress on the job.
What will be an ideal response?
When conducting marketing research abroad, researchers must, adopt the ethical guidelines of not only the domestic country but the host country as well
Indicate whether the statement is true or false
Each partner has a separate Capital, Withdrawals, and Income account
Indicate whether the statement is true or false