answer all questions and explain

1.Ford and Co. CPA's, in connection with a public offering by Owens, wrote that Owens was in great financial condition. Vic bought stock in this public offering. The stock quickly went down in value when it was determined that Owens was on the verge of bankruptcy. To succeed in an action under the 1933 Securities Law, Vic, in addition to other elements, must prove that: a Vic relied on the information in the Registration Statement. b. Vic is in privity with Ford and Co. CPA. C. Ford was negligent. d. Owens filed a registration statement containing a material misstatement or omission 2. Apply the same facts as above. To succeed in an action under the primary benefit rule, a. Vic need not prove that he relied on the information in the Registration Statement. b. Vic met with Ford and that the accountant was aware that Vic would use the report for a purpose and rely on the report for such purpose. C. Vic must prove reliance on Ford's information but need not prove any contact with Ford or that Ford knew about him. d. Vic must prove fraud of Ford