What remedies are available to an applicant who has been induced to buy shares of a company by a material mis-representation of facts in a prospectus?

Remedies available to the shareholders for untrue statement in the prospectus:

In case of untrue and misleading information furnished in the prospectus its promoters and directors will be held liable. The shareholders may claim to refund the value of shares allotted and the Shareholders may claim demurrage for any losses incurred for such misstatement furnished in the prospectus. But they cannot retain the Ave and claim the demurrage simultaneously.