Are the underwriters purchasing and the investors selling independent$$ events?

A$.$

$$No$,$ because the investors selling will cause the price to$$ drop, which makes it more likely that the underwriters will purchase shares.

B$.$

$$Yes$,$ because the underwriters tell the investors whether to sell or not.

C$.$

$$Yes$,$ because the investors sell shares and underwriters buy shares without communicating with each$$ other, so each group is acting without knowledge of what the other is doing.

D$.$

$$No$,$ because the underwriters cannot buy shares if the investors sell shares.