Only those who actually signed the registration statement can be liable for a Section 11 violation.

Question

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Section 11 of the Securities Act of 1933 holds those who signed the registration statement liable for any material misstatements or omissions in the statement. However, it also holds underwriters and others involved in the sale of the security liable. Therefore, not only those who signed the registration statement but also others involved in the sale can be liable for a Section 11 violation.

Only Those Who Actually Signed the Registration Statement Can Be