Which of the Following Is True Regarding What a Plaintiff

Multiple Choice

Which of the following is true regarding what a plaintiff must 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 reliance on the registration statement.
B) A plaintiff must prove privity with the accountant at issue.
C) The plaintiff must establish reliance and privity.
D) The plaintiff must establish reliance on the financial statement, privity with the accountant, and also that the securities were purchased in an initial public offering.
E) The plaintiff does not have to prove reliance on the financial statement nor must the plaintiff prove contractual privity.