What type of liability, if any, does Section $11$ of the Securities Act impose on accountants?Section $11$ of the Securities Act imposes civil liability on accountants for misstatements and omissions of material facts in registration statements but an accountant is only liable to people the accountant advised to purchase the security.Section $11$ of the Securities Act imposes criminal liability on accountants for misstatements and omissions of material facts in registration statements and an accountant may be liable to anyone who acquires a security covered by the registration statement.Section $11$ of the Securities Act does not impose liability on accountants for misstatements and omissions of material facts in registration statements but does impose liability on attorneys.Section $11$ of the Securities Act imposes civil liability on accountants for misstatements and omissions of material facts in registration statements and an accountant may be liable to anyone who acquires a security covered by the registration statement.