Distinguish between the Securities Act of 1933 and the Securities Exchange Act of 1934. Why is it easier for a plaintiff to sue an auditor under the Securities Act of 1933?

the plaintiff finds it easier to sue auditor under Securities Act of 1933 than under Securities Act of 1934. This is because, in Securities Act of 1933, it is sufficient if the plaintiff proves that the loss was due to the audited financial statement that contained material omissions. But, in other statutory laws he needs to prove the contractual agreement between both