Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jimmy Gatigu is a non-executive director of Kuzi Limited, a listed company. Shortly after attending a board meeting where arrangements were finalised for an agreed

Jimmy Gatigu is a non-executive director of Kuzi Limited, a listed company. Shortly after attending a board meeting where arrangements were finalised for an agreed takeover bid of the company Sahara Limited, Mr.Gatigu bought shares in Kuzi Limited from the listing in the securities exchange. He thereafter bought shares of the same company from Jane Uza, a shareholder. Immediately the takeover bid was made public, Jimmy Gathigu sold all the shares he had bought at a profit. Discuss whether Kuzi Limited, Jane Uza and Sahara Limited are entitled to any legal action against Jimmy Gathigu for recovery of profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Exceptions From EU Free Movement Law Derogation Justification And Proportionality

Authors: Panos Koutrakos, Niamh Nic Shuibhne, Phil Syrpis

1st Edition

1509928863, 978-1509928866

More Books

Students also viewed these Law questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago