Based Upon the Hochfelder Case, Scienter Is Now Required for Auditor

question 15

True/False

Based upon the Hochfelder case, scienter is now required for auditor liability under Section 10 of the 1934 Securities Exchange Act.

---

Definitions:

Clavicle

A lengthy bone that functions as a support link between the scapula and the chest bone.

Epimysium

A layer of connective tissue that surrounds skeletal muscles, providing structural support and protection.

Perimysium

A sheath of connective tissue that groups muscle fibers into bundles or fascicles within a muscle.

Endomysium

A thin layer of connective tissue that surrounds each individual muscle fiber, providing support and maintaining the spatial organization of muscle fibers.