According to the Uniform Securities Act, failing to disclose important information when offering or selling a security may subject the offender to civil liability.
A party who is held civilly liable must make restitution for losses incurred or comply with other court orders in a legal proceeding. Civil liability is distinct from criminal liability in that it is typically brought by a private party to seek monetary compensation or injunctions, as opposed to the state, which frequently brings criminal liability to address a public wrong. In a car accident, for instance, the wounded party may file a lawsuit against the driver and demand financial compensation. Typically, a civil liability arises from a contract or a tort. A civil liability defendant is either "liable" or "not liable." If a defendant is accountable, they are just need to provide relief to the plaintiff and not risk going to jail.
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