Under Section 11 of the Securities Act of 1933, the purchaser must sue the accountant within three (3) years after the time the misstatement or omission was or should have been discovered.

Question

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Under Section 11 of the Securities Act of 1933, the statute of limitations is one year after the discovery of the untrue statement or the omission, or after such discovery should have been made by the exercise of reasonable diligence, and in no event shall any such action be brought more than three years after the security was bona fide offered to the public.

Under Section 11 of the Securities Act of 1933, the Purchaser