In order for a plaintiff to recover against an auditor under the 1933 Securities Act, he or she must normally prove:

Question

Quizplus · Accepted Answer

Under the 1933 Securities Act, a plaintiff must prove that the financial statements were materially false or misleading to recover against an auditor. This act primarily focuses on the accuracy and truthfulness of the financial statements at the time of the securities offering, rather than on proving reliance or the level of negligence by the auditor.

In Order for a Plaintiff to Recover Against an Auditor