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An investor seeking to recover stock market losses from a CPA firm associated with an initial offering of securities based on an unmodified opinion on
An investor seeking to recover stock market losses from a CPA firm associated with an initial offering of securities based on an unmodified opinion on financial statements that accompanied a registration statement, must establish that |
The audited financial statements contain a false statement or omission of material fact. | |
The CPA firm would have discovered the false statement or omission if it had exercised due care in its examination. | |
The CPA firm did not act in good faith. | |
The investor relied on the financial statements. |
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