Ace Incorporated offers to buy Black Jack Entertainment company. On March $1$st BJEC gives Ace copies of BJEC$$s financial statements for the previous year. The statements show a total value of inventory of $$10$ million. On March $15$th BJEC discovers that the inventory value is overstated by nearly $$1$ million, but does not inform Ace. On May$1$st$,$ Ace, relying on those statements, buys BJEC. On May $25$th Ace discovers the overstatement and begins the legal process for filing a suit against BJEC. Can Ace succeed in a suit against BLEC for fraud? Explain the legal reasoning behind your decision.