Lloyd Schuman, a former senior internal auditor at Verso Corporation, learned about confidential plans that Verso, a publicly traded paper company, was going to acquire a privately held paper company, NewPage Holdings Inc. In the weeks before Verso went public with the acquisition, Schuman purchased “an unusually large” amount of Verso shares and tipped this material, nonpublic information to a close relative, who also purchased Verso shares. As soon as the deal was announced on the morning of January 6, 2014, Schuman sold all of his Verso shares, realizing more than $107,000 in profits. Schuman’s relative also sold his Verso shares, realizing more than $2,500 in profits. Assume Schuman was a CPA. Were any rules of professional conduct in the AICPA Code violated? Did Schuman meet his duties to Verso? Explain.