Legal Liability and Public OfferingsCena Corporation raised $7 million by making a private interstate offering of $4 million in common stock and negotiating a $3 million loan from Regional Bank in order to expand its operations. The common stock was properly offered pursuant to securities rules, so the 1933 Act doesn’t apply, but the antifraud provisions of the Federal Securities Acts does apply.Cena engaged Salmon, CPAs to audit their financial statements. Salmon knew that the only reason for such an audit was so for the audited financial statements to provide to Regional Bank and the buyers of the common stock. Although Salmon conducted the audit in compliance with its audit program, they failed to detect material fraud committed by Cena’s president. Salmon did not notice the embezzlement because of its unintentional failure to exercise due care in designing its audit for this engagement.Salmon rendered an unqualified audit opinion on Cena’s financial statements after completion of the audit. Purchasers of the common stock relied on the financial statements in deciding whether to purchase the shares. Based on the audited financial statements, Regional Bank approved the loan to Cena. He was then involuntarily petitioned into bankruptcy in a 60 days window after selling the common stock and attaining the loan from Regional Bank. Cena became insolvent and defaulted on its loan to Regional Bank due to the president’s embezzlement. This caused the common stock to be virtually worthless. The purchasers of the common stock have taken actions against Salmon for damages citing the Securities Exchange Act of 1934 and Regional Bank as a result of Salmon’s negligence.Required:Explain the merits of the actions commenced against Salmon by the common stock purchasers and by Regional Bank. What are the likely outcomes? Explain.What if the purchasers of the common stock were able to bring suit under the 1933 Act and client filed a registration statement initially? How would you answer differ from the previous question? Explain.What are the differences between the Securities Exchange Acts of 1933 and 1934? Your written response paper should be 3 pages in length. Please type your assignment in a Word document and follow APA format, according to CSU-Global Guide to Writing and APA (Links to an external site.). Include a title page and reference page. Use two (2) outside academic sources other than the textbook, course materials, or other information provided as part of the course materials.
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Title of Paper
Student’s Name
Course Number (ORG500) – Name of Course (Foundations of Effective Management)
Colorado State University – Global Campus
Instructor’s Name
August 6, 2010
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veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore
magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata
sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet
dolore magna si napi. Wisi e nim ad minim
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period. This is a subtopic of Level 4 (Example: Posture and tone.). Ipsum lorem vei illum sat
dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim
admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet
dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore
eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse.
Ultaceet dolore magna si napi. Wisi e nim ad minim veniam, quis nos In a tsvulpate velt esse
meleste at semper manet sola. UT lacreet dolore magna aliquam sic semp fi tyrannis erat
volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat.
Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet
dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste
at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi
enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod
tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim
Level 2 Header (Example: Diversity)
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at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi
enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod
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tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim
veniam, quis nos In a tsvulpate velt esse meleste at semper manet sola. UT lacreet dolore magna
aliquam sic semp fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat.
Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet
dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste
at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi
enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod
tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim
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References
Carroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. The
Academy of Management Review, 4(4), 497. [This is a journal article citation. Articles
from the Library databases are based on print journals so the citation will end with page
numbers.]
Collins, J. (2001). Good to great. New York, NY: HarperCollins Publishers Inc. [This is a book
citation.]
Epstein, M. J. (2008). Making sustainability work. San Francisco, CA: Greenleaf
Publishing Limited.
Epstein, M., & Roy, M. (2003). Improving sustainability performance: Specifying, implementing
and measuring key principles. Journal of General Management, 29(1), 15-31.
French, S. (2009). Critiquing the language of strategic management. The Journal of Management
Development, 28(1), 6-17. doi: 10.1108/02621710910923836 [This is a journal article
citation from a Library database. Include a doi number if available.]
Ginter, P., Ruck, A., & Duncan, W. (1985). Planners’ perceptions of the strategic management
process. Journal of Management Studies, 22(6), 581-596.
Hollingworth, M. (2009, November/December). Building 360 organizational sustainability. Ivey
Business Journal Online. Retrieved from
http://www.iveybusinessjournal.com/article.asp?intArticle_ID=868 [This is a journal that
is published online, so you would include the URL.]
Reuters. (2010). Walgreens Co. (WAG.N). Retrieved from
http://www.reuters.com/finance/stocks/companyProfile?symbol=WAG.N
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Walgreens. (2010a). Mission statement. Retrieved from
http://news.walgreens.com/article_display.cfm?article_id=1042 [This is a website citation
with a corporate author. If you retrieve information from various pages of this particular
website, you need to cite each web page. However, because the author and the year will
be exactly the same, the lowercase letters, “a,” “b,” etc. need to be added to the year. The
in-text citation would be: (Walgreens, 2010a).]
Walgreens. (2010b). Our past. Retrieved from
http://www.walgreens.com/marketing/about/history/default.html

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