[latentpot]

The answer is honestly that it depends. If the investors asked the right questions, but the answers were fudged/ deliberately incomplete, then perhaps you have something to pursue. But, if you are not asking the right questions, or you do not further evaluate answers to ascertain their correctness and completeness, then you slacked at some point, and then the answer is that perhaps you are liable for your losses.

[bogle]

That sounds reasonable and could be paraphrased to "caveat emptor". IANAL but I believe that's a reasonable thing for a court to decide should it come to that.