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Helen is the receptionist for First Well Ltd., a junior oil and gas company. On Thursday at lunch she told her friend Alice that a

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Helen is the receptionist for First Well Ltd., a junior oil and gas company. On Thursday at lunch she told her friend Alice that a takeover bid had arrived by courier that morning. Alice purchased First Well Ltd. stock How is the share purchase impacted by the Securities Act? Alice is a tippee and liable for prosecution Alice's share purchase is allowed. Alice and Helen are both insiders and must report the purchase within 10 days. Alice is an insider and must report the purchase within 10 days. Alice is a tippee and Helen is a tipper and both are liable for prosecution

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