Finance and Investment Law

You are at a dinner party and overhear a conversation next to you about a potential merger from a person you know is the CEO of one of the companies in the merger. You do not engage him in the conversation and just listen. The next day you call your broker and discuss what you heard. He tells you that there have been rumours, but that is all he has heard, so you put in an order of 10,000 shares at $55.00 per share. The broker tells you the next day that he informed some of his good clients about what you heard and got them in as well. A few hundred thousand shares were purchased as a result of this information being passed on, and this resulted in the stock price moving up $5.00 on that day. The merger is announced a couple of days later at $75.00 per share and you tender your shares per the offering

question:

Is the CEO of the company is a tripper and are you a tipper or tippee or both?

Is the broker a tippee or a tipper or both neither and are his clients he advises tippees or just clients buying on rumour?