A Defendant Using the Due Diligence Defense Against a Section

Multiple Choice

A defendant using the due diligence defense against a Section 11 violation must show all of the following EXCEPT:

A) the defendant used experts' reports that had not been prepared for registration statements.
B) the defendant conducted a reasonable investigation.
C) the defendant reasonably believed that the statements made were true.
D) the defendant reasonably believed that there were no omissions that made any statements misleading.