1.Barney works as a finance advisor. At his cousin's wedding, he meets Lou. When Lou discover Barney's occupation, she asks him if she could invest in Xanerva shares which is listed in Australian securities exchange (ASX). Barney tells her he knows that Xanerva will be announcing the result of a successful trial of a new drug soon. The shares are expected to increase in value significantly following the announcement.

The day after the wedding, Lou withdraws all her savings and buy the shares. Xanerva never makes the announcement, and, in fact the shares lose significant value over the following six(6) months.

Discuss the Barney will likely to be liable in tort. Address only tort law issues.