Under the Securities Act of 1933, a Third-Party Plaintiff Does

question 44

True/False

Under the Securities Act of 1933, a third-party plaintiff does not have the burden of proof that he or she relied on the financial statements or that the auditor was negligent or fraudulent in doing the audit. Rather, the plaintiff need only prove that the audited financial statements contained a material misrepresentation or omission.

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Definitions:

Familism

A cultural belief emphasizing the importance of family connections, loyalty, and reliance within a social group.

Family Obligation

Duties, responsibilities, or expectations that individuals may have towards their family members, often culturally defined.

Risk Factors

Characteristics or conditions that increase the likelihood of developing a disease or injury.

Developmental Outcomes

The measurable progress or changes in individuals, typically children, across various domains of development.