I recently covered liability under Sections 11 and 12 of the Securities Act of 1933 in the securities regulation course that I am teaching at the University of California, Irvine School of Law.  Thus, I was interested to read a recent ruling by U.S. District Judge Morrison C. England, Jr. in  Wong v. Tomaszewski, 2018 U.S. Dist. LEXIS 166916.