Under the Section 10(b) Rule 10b-5 antifraud provisions of the Securities Exchange Act of 1934, which of the following conditions must a plaintiff prove to recover damages from an accountant?
A. The plaintiff is in privity of contract with the accountant.
B. The plaintiff relied on the accountant's intentional misstatement of material facts.
C. The plaintiff is free from contributory negligence.
D. The accountant acted without due diligence.
Answer: B. The plaintiff relied on the accountant's intentional misstatement of material facts.
Business
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