Liability Flashcards
1
Q
as a defendant, to whom is the due diligence defense available to?
A
any party except the issuer
2
Q
the scale of liability under section 11 depends on what?
A
the type of defendant
3
Q
which party defendant has the highest standards to perform due diligence?
A
top manager’s of the issuer
4
Q
when does a company become liable for a misstatement in a RS?
A
on the effective date of the registration
5
Q
under section 11, what is the highest amount a person can recover in a law suit?
A
no higher than the price at which the security was offered to the public
