Which of the Following Was the Result on Appeal in the Case

question 7

Multiple Choice

Which of the following was the result on appeal in the case in the text In re Century Aluminum Company Securities Litigation,the case in the text involving plaintiffs who purchased secondary-offering shares and who attempted to sue under Section 11 of the Securities Act of 1933 for misrepresentations allegedly released regarding the secondary offering?

• A) The court affirmed the trial court's dismissal of the case recognizing that it is impossible as a matter of law for purchasers of aftermarket shares to have claims based on Section 11 because Section 11 does not apply to secondary-offering shares.
• B) The court affirmed the trial court's dismissal of the case recognizing that it is often impossible for purchasers of aftermarket shares to have claims based on Section 11 because they normally purchase through brokers that do not acknowledge the source of the shares.
• C) The court affirmed the trial court's dismissal of the case recognizing that the plaintiffs had not submitted sufficient evidence of misrepresentations.
• D) The court allowed the case to proceed contingent on the plaintiffs submitting proof by an expert that misrepresentations occurred.
• E) Finding that the plaintiffs had met all prerequisites in regard to proof, the court ruled that the case should be allowed to proceed to trial.

Distinguish between legally binding statements and illustrative or non-binding commentary within judicial opinions.

Recognize the correct format for citing cases, statutes, and legal authorities.

Understand the characteristics of monopolistic competition, including product differentiation and market power.

Analyze the long-run equilibrium in monopolistic competition, particularly zero economic profits and inefficiencies.

---

Definitions:

External Locus of Control

A belief system where individuals think that their successes or failures result from external factors beyond their control.

Decisions

The process of making choices between alternative courses of action based on preferences, values, and available information.

Locus of Control

An individual's belief system regarding the causes of his or her experiences and the factors to which that person attributes success or failure.

Better Compensation

Refers to improved salary, benefits, and other rewards that are given to employees for their work.