Accountant and Attorney Liability as "Sellers" of Securities under Section 12(2) of the Securities Act of 1933: Judicial Rejection of the Statutory, Collateral Participant Status Cause of Action

I. Introduction II. Establishing Seller Status Under Section 12(2) ... A. Pinter v. Dahl—Background ... B. Analysis of Pinter III. Extending Pinter to Attorneys and Accountants ... A. Second Circuit—Wilson v. Ruffa & Hanover, P.C. … B. Ninth Circuit—Moore v. Kayport Package Express … C. The Wilson and Moore Case Line ... D. What Constitutes Solicitation? IV. The Accountant's Role in Public and Private Placements ... A. Professional Accounting Standards ... B. Accountant's Code of Professional Conduct ... C. The SEC, the Auditor, and New Security Offerings V. Conclusion