Posted: January 20th, 2017
To prove his or her due diligence defense under the Securities Act Section 11 with regard to audited financial statements, an officer of the issuer must prove which of the following? The officer had no intent to misstate or omit a material fact in the audited financial statements. The officer had no reason to believe the financial statements omitted or misstated a material fact. The officer made a reasonable investigation into the accuracy of the audited financial statements. The officer believed the financial statements did not omit or misstate a material fact.
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