Odell, an accountant, prepares for Pronto Tacos Corporation a financial statement that omits a material fact. The financial statement is included in Pronto Tacos's registration statement, which Qiana reads. Qiana buys Pronto Tacos stock. Under Section 11 of the Securities Act of 1933, for Odell to be liable for the omission, Qiana must show that she

Question

Odell, an accountant, prepares for Pronto Tacos Corporation a financial statement that omits a material fact. The financial statement is included in Pronto Tacos's registration statement, which Qiana reads. Qiana buys Pronto Tacos stock. Under Section 11 of the Securities Act of 1933, for Odell to be liable for the omission, Qiana must show that she​

Quizplus · Accepted Answer

Under Section 11 of the Securities Act of 1933, a plaintiff must show that there was a material misstatement or omission in the registration statement and that they suffered a loss, but they do not need to prove reliance on the omission.

Odell, an Accountant, Prepares for Pronto Tacos Corporation a Financial