To be successful in a civil action under section 11 of the Securities Act of 1933 against auditors for liability for a materially misstated registration statement, the plaintiff must prove the
A. Auditors’ intent to deceive, yes; plaintiff’s reliance on the registration statement, yes.
B. Auditors’ intent to deceive, yes; plaintiff’s reliance on the registration statement, no.
C. Auditors’ intent to deceive, no; plaintiff’s reliance on the registration statement, yes.
D. Auditors’ intent to deceive, no; plaintiff’s reliance on the registration statement, no.
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