Brent is on the board of directors for MYOB. At the most recent directors' meeting, Brent learns that MYOB was about to make an announcement to take over Reckon, which is a computer software company. Brent decided to tell his best friend about the proposed MYOB acquisition of Reckon. He told his best friend to buy shares in Reckon and not to spread this news.

Brent's best friend profited in selling their shares to the tune of $1 million.

Required:

Discuss the fiduciary duty of directors and whether Brent has breached any director's duties in this scenario.