Accountants' liability under the 1933 and 1934 Securities Acts is more extensive and has fewer limitations than liability under the common law.

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Under the 1933 and 1934 Securities Acts, accountants face strict liability for misstatements or omissions of material facts in registration statements and periodic filings, with limited defenses available. This is broader and more stringent than common law liability, which typically requires proof of negligence or fraud.

Accountants' Liability Under the 1933 and 1934 Securities Acts Is