Section 12(a)(1)of the 1933 Act Imposes Liability on Any Person

question 76

Multiple Choice

Section 12(a) (1) of the 1933 Act imposes liability on any person who violates the provisions of Section 5.Liability extends to any purchaser to whom an illegal offer or sale was made.Which of the following describes the purchaser's remedy?

• A)The purchaser's remedy is rescission of the purchase or damages if the purchaser has already resold the securities.
• B)The purchaser's remedy is to issue an injunction against the seller and sue for punitive damages.
• C)The purchaser's remedy is rescission of the purchase and any consequential damages.
• D)The purchaser's remedy is the right to sue for treble damages.