https://www.viddler.com/embed/1f5a9785/?f=1&autoplay=0&player=full&secret=97426822&loop=0&nologo=0&hd=0

Assume Ken Hastings (cookout host) and Tim Daniels (Ken's tennis partner) both bought stock in New World Industries as soon as the market opened on Monday and all profited 30% after the press announcement by Mrs. Chen. Pursuant to their agreement, Tim Daniels paid Ken Hasting 5% of the profit he made on the transaction.

In our textbook, p. 45-28 defines statutory insiders and p. 45-36 defines traditional insiders. Upon reviewing this information, can you expand as to who our insider is within our scenario, and why?

under the U.S. v. Newman (2014) case, the insider has to have had personally benefited from the information they received and acted upon. Is this the case here? Are there facts to this? If not, is there actual tippee liability for any of the parties?

Answer should be based on the short video (5:26) attached.