Panzirer read an article in the Wall Street Journal stating that buying stock in a specific company would be a wise investment. She purchased stock in that company. The company later went bankrupt and...

Panzirer read an article in the Wall Street Journal stating that buying stock in a specific company would be a wise investment. She purchased stock in that company. The company later went bankrupt and Panzirer lost her investment. She sued the company’s officers, directors, and independent accountants under SEC Rule 10(b)-5, claiming that, although she had never read the company’s annual report, she had satisfied the reliance requirement for fraud because she had relied on the “integrity of the marketplace,”and a “fraud on the market”had been committed by the company. Who won this case, and why?