North American Acceptance Corporation is selling Thrift Notes, Thrift Certificates, and notes to the public. Its auditors wrote a letter in which they expressed "growing concern" about the company's financial position. The "growing concern" information was never disclosed. Are securities being sold? Who is liable for the failure to disclose?

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The Answer of North American Acceptance Corporation is selling Thrift Notes, Thrift Certificates, and notes to the public. Its auditors wrote a letter in which they expressed "growing concern" about the company's financial position. The "growing concern" information was never disclosed. Are securities being sold? Who is liable for the failure to disclose?

North American Acceptance Corporation Is Selling Thrift Notes, Thrift Certificates