Proof of aiding and abetting another person's securities violation is not sufficient misconduct to overcome the privity requirement of Section 12(a)(2)of the Securities Act of 1933.

Question

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Professionals who merely aid and abet a client's Section 12(a) (2)violation of the Securities Act of 1933 will not have liability for damages under Section 12(a) (2).

Proof of Aiding and Abetting Another Person's Securities Violation Is