Wood County v. Pembroke

How later courts describe this case

• holding § 11 extends to any person acquiring a security that was registered in a public offering via a materially misleading statement, as long as that person brings his or her claim within the applicable statute of limitations
• Section 11 “is remarkably stringent where it applies, readily imposing liability on ancillary parties to the registration statement (like accountants) for the benefit even of purchasers after the original offering ”