Question
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
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