Lincoln purchased Tally Corporation securities in a public offering subject to the Securities Act of 1933. Rosemere
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Lincoln purchased Tally Corporation securities in a public offering subject to the Securities Act of 1933. Rosemere & Co., CPAs, issued an unqualified opinion on Tally Corporation's most recent financial statements (which were included in Tally's registration statement) and a comfort letter that revealed no material exceptions.
Rosemere & Co. is being sued by Lincoln for alleged misstatements within in the registration statement. To prevail, Lincoln must prove:
a. Damages, reliance, and scienter.
b. Damages, material misstatements, and reliance.
c. Damages and material misstatements.
d. Material misstatements and reliance.
Choose the correct answer.
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