In order to expand its operations, Gibson Corp. raised $5 million in a public offering of common stock, and also negotiated a $2 million loan from Citizens National Bank. (Click the icon to view additional information.) Read the requirements. Requirement a. Discuss whether you believe Horton will be found liable to the purchasers of common stock. Horton will likely to the purchasers of the common stock if the suit is brought under Rule 10b-5 of the Securities Exchange Act of 1934 because they must prove the existence of a material error or omission. However, if the purchasers are original purchasers and are able to bring suit under the Securities Act of 1933 , the plaintiffs will likely because they must prove knowledge or intent to deceive by the auditor. Requirements a. Discuss whether you believe Horton will be found liable to the purchasers of common stock. b. Indicate whether you believe Citizens National Bank will be successful in its claim against Horton. c. Indicate whether you believe the trade creditors will be successful in their claim against Horton