Which of the Following Is True of Section 11 of the Securities

Multiple Choice

Which of the following is true of Section 11 of the Securities Act of 1933?

A) It permits injured private parties to bring criminal action against fraudulent registration statements filed by issuers.
B) It imposes liability on those who are negligent in not discovering the fraud.
C) It allows an issuer to assert a due diligence defense against the imposition of Section 11 liability.
D) It cannot be imposed on cases involving negligent omission of a material fact in a registration statement.