Problem

Which of the following statements about the Securities Act of 1933 is not true?A. The plai...

Which of the following statements about the Securities Act of 1933 is not true?

A. The plaintiff must prove damages or an economic loss.

B. The plaintiffs must prove they read and relied upon the financial statements.

C. Any purchaser of securities may sue auditors.

D. The plaintiffs need not prove that the materially misstated financial statements are the direct cause of the loss.

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