Which of the following defenses may be raised by an accountant under Section 11 of the 1933 Securities Act?

Name: Which of the following defenses may be raised by an accountant under Section 11 of the 1933 Securities Act?
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Question

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Under Section 11 of the 1933 Securities Act, an accountant can raise the defense of due diligence, but privity is not a defense. Due diligence involves proving that they conducted a reasonable investigation and believed the statements were true at the time.

Which of the Following Defenses May Be Raised by an Accountant