Who can be held liable under Section 11 for civil liability related to the Securities Act of 1933?

The correct answer is that anyone involved in the corporation related to the violation can be held liable under Section 11 of the Securities Act of 1933. This provision establishes civil liability for false or misleading statements or omissions made in the registration statements of securities.

Liability under Section 11 is quite broad, extending not just to corporate executives but also to various other parties associated with the registration process, including directors, underwriters, and even accountants. The law acknowledges that a range of individuals and entities can contribute to misleading or inaccurate information in the registration statements, and therefore, several parties can be held accountable if these documents are found to be deficient.

This comprehensive liability framework aims to protect investors by ensuring that all relevant parties involved in the offering of securities maintain a duty of accuracy and honesty in their disclosures. Consequently, this provision promotes transparency within the securities market, aligning with the overarching goals of the Securities Act of 1933.