Under joint and several liability,users who experience losses from reliance on materially misstated financial statements may recover full damages from any defendant,including the audit firm,regardless of the level of fault for that defendant.

Question

Quizplus · Accepted Answer

Under joint and several liability, any defendant can be held fully responsible for the damages suffered by the plaintiff, regardless of the level of fault for that defendant. This means that if a user experiences losses from reliance on materially misstated financial statements, they can recover full damages from any defendant, including the audit firm.

Under Joint and Several Liability,users Who Experience Losses from Reliance