1. In Chiarello United States, the Supreme Court Required Chiarella to disgorge the profit he obtained by trading on non-public information a. b Ruled that mere possession of non-public information did not trigger the "disclose or c. d. abstain" duty Upheld Chiarella's conviction for Insider Trading Ruled that Chiarella could not trade on non-public information because he had fiduciary 2. In United States V.O'Hagan, the Supreme Court: Ruled that O'Hagan was not liable for securities fraud Ruled that O'Hagan did not violate insider trading rules because he did not have a fiduciary duty to the company's shareholders Validated the misappropriation theory Ruled that the misappropriation theory did not apply a. b. c. d. 3. The Rule against Misappropriation of Tender Offer Information (Rule 14e-3): Prohibits, anyone (other than the bidder) to trade on material, non-public information about a tender offer obtained from the bidder or the target a