Chapter 28
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Chapter 28
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Free Flashcard From Chapter 28
Question:
Insider Trading
Answer:
Material
inside information: information that a reasonable person would attach
importance to in determining whether to buy/sell a securitySEC v. Texas Gulf Sulphur Co. (2nd Cir. 1968): The
court stated that it is unlawful for a person who has access to material,
nonpublic information about the company of which he is a director, officer, or
employee to use that information in making trades for his own account in
securities of that company