Series 79: Damages

Damages

The measure of damages in a Section 11 case is generally limited to the difference between (1) the amount paid for the security, not to exceed the offering price, and (2) the value at the time the suit was brought or the securities were sold. The maximum amount recoverable under Section 11 is the security’s public offering price.

Section 11 limits the liability of an underwriter to the total public offering price of the