Liability under the 1933 Act applies only to sellers of securities who utilize untrue statements, not to those who merely offer to sell securities using untrue statements.

Name: Liability under the 1933 Act applies only to sellers of securities who utilize untrue statements, not to those who merely offer to sell securities using untrue statements.
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Question

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The 1933 Act imposes liability on both sellers and those who offer to sell securities using untrue statements.

Liability Under the 1933 Act Applies Only to Sellers of Securities