Defendants found liable in a private civil action


Accounting Firm is among several defendants found liable in a private civil action brought by an individual plaintiff inder the SEC of 1934. Plaintiff, who has a net worth of $500,000. received judgement for damages of 1 million. The jury determined that Accounting Firm did not commit a knowing violation of the securities law but that it was responsible for 10% of the total damages. If Accounting Firm is the only defendant from which plaintiff can recover, it will be liable for:

A) 50,000

B) 100,000

C) 150,000

D) 1,000,000

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Accounting Basics: Defendants found liable in a private civil action
Reference No:- TGS090539

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