Which of the Following,if Any,may Be Defenses for Bruno

question 18

Multiple Choice

Which of the following,if any,may be defenses for Bruno?

• A) For any alleged violations, Bruno could raise the defense that a plaintiff was aware of the omission or false statement when the security was purchased; but no defense is available based on the theory that omitted or false statements were immaterial to the sale of the security.
• B) For any alleged violations Bruno could raise the defenses that a plaintiff was aware of the omission or false statement when the security was purchased, and that any omitted or false statement was immaterial to the sale of the security.
• C) Except for the violation of selling securities before the effective registration date, Bruno could raise the defense that a plaintiff was aware of the omission or false statement when the security was purchased; but no defense is available based on the theory that omitted or false statements were immaterial to the sale of the security.
• D) Except for the violation of selling securities before the effective registration date, Bruno could raise the defenses that a plaintiff was aware of the omission or false statement when the security was purchased, and that any omitted or false statement was immaterial to the sale of the security.
• E) No defenses are available to Bruno because he had already been held liable to the SEC once.