The issuer is permitted to assert a due diligence defense against the imposition of Section 11 liability.

Name: The issuer is permitted to assert a due diligence defense against the imposition of Section 11 liability.
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Question

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Under Section 11 of the Securities Act of 1933, the issuer is strictly liable for any material misstatements or omissions in the registration statement, and cannot assert a due diligence defense.

The Issuer Is Permitted to Assert a Due Diligence Defense