The issuer is not permitted to assert a(n) ________ defense against the imposition of Section 11 liability.

Question

Quizplus · Accepted Answer

The issuer cannot assert a due diligence defense against the imposition of Section 11 liability because Section 11 of the Securities Act of 1933 imposes strict liability on issuers for any material misstatements or omissions in a registration statement, regardless of the issuer's intent or knowledge.

The Issuer Is Not Permitted to Assert A(n) ________ Defense