Which of the Following Is Not True

Which of the following is not true?

A) Owners of preferred stock have a claim on the assets of a firm that is senior to the claim of common shareholders.
B) Preferred shares carry special rights.
C) The senior status and special rights may induce certain investors to purchase preferred shares of a firm, even though they would be unwilling to purchase common shares of the same firm.
D) The senior status and special rights increase the risks of preferred shareholders relative to common shareholders.
E) Preferred shares vary with respect to the rights and obligations of the issuing firm and of the investor in the preferred shares.