What Must a Plaintiff Do in Order to Recover Damages

Multiple Choice

What must a plaintiff do in order to recover damages under the Securities Act of 1933 after purchasing a security covered by a registration statement containing false information or missing information?

A) A plaintiff must prove that they relied to their detriment on the registration statement.
B) A plaintiff must prove that they were in privity of contract with the accountant at issue.
C) The plaintiff must establish reliance on the document and privity of contract with the accountant.
D) The plaintiff must establish reliance on the financial statement, privity with the accountant, and also that the securities were purchased within the previous 18 months.
E) The plaintiff does not have to prove reliance on the financial statement or establish privity.