A defendant using the due diligence defense against a Section 11 violation must show all of the following EXCEPT: Group of answer choices the defendant used experts’ reports that had not been prepared for registration statements. the defendant conducted a reasonable investigation. the defendant reasonably believed that the statements made were true. the defendant reasonably believed that there were no omissions that made any statements misleading

A defendant using the due diligence defense against a Section 11 violation must show all of the following EXCEPT:
Group of answer choices
the defendant used experts’ reports that had not been prepared for registration statements.
the defendant conducted a reasonable investigation.
the defendant reasonably believed that the statements made were true.
the defendant reasonably believed that there were no omissions that made any statements misleading.

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Answer

• the defendant used experts’ reports that had not been prepared for registration statements.
  Explanation:

• Any statement that the defendant makes without an expert, the defendant must show that he held a reasonable belief.
• He/she must also show that the statement was true at the time the registration statement became effective.
• He also requires to state that there were no omissions in stating the material fact.