Question

Maria, an accountant, includes a false statement in a report for National Products, Inc. (NPI) that is filed with the Securities and Exchange Commission. Omar buys stock in NPI and loses money on the investment. Omar files a suit against Maria, alleging fraud under the 1934 Securities Exchange Act. To avoid liability, Maria can show that
a. she intended to defraud NPI, not Omar.
b. she was not aware her statement was false.
c. either a or b.
d. none of the above.

Answer

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