Dhani, an accountant for Eureka! Inc learns of undisclosed company plans to market a new laptop. Dhani buys 1,000 shares of Eureka! stock. He reveals the company plans to Fay, who tells Geoff. Both Fay and Geoff buy 100 shares. Geoff knows that Fay got her information from Dhani. When Eureka! publicly announces its new laptop, Dhani, Fay, and Geoff sell their stock for a profit. Under the
Securities Exchange Act of 1934, Fay is most likely?
A) liable for insider trading.
B) not liable because Fay did not prevent others from profiting.
C) not liable because Fay did not misappropriate any information.
D) not liable because Fay does not work for Eureka!
A
You might also like to view...
What concept listed below is defined as the process by which we receive and interpret information from our environment?
A. focal object B. primary effect C. perception D. conception
A truck that cost $12,000 and on which $9,000 of accumulated depreciation has been recorded was disposed of on January 1. Assume that the truck was traded for a similar truck having a price of $13,000, that an $1,800 trade-in was allowed, and that the balance was paid in cash. The amount of the gain or loss recognized on this transaction would be
A) a $1,200 loss. B) a $1,200 gain. C) a $2,400 loss. D) no gain or loss recognized.
The effective-interest method of amortizing a bond discount or premium is the preferred method
Indicate whether the statement is true or false
Learning about other cultures and developing sensitivity will help maximize ethnocentric relations when dealing with other cultures
Indicate whether the statement is true or false