Question

Nina, an accountant, prepares for Opal Corporation a financial statement that misstates a material fact. The statement is included in Opal's registration statement. Pete, who is in privity with Nina, and Quinn, who is not, each buy Opal stock. Under Section 11 of the Securities Act of 1933, Nina may be liable to
a. neither Pete nor Quinn.
b. Pete and Quinn.
c. Pete only.
d. Quinn only.

Answer

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