Mr Snake is a company director of CallMe Ltd, which is a very large public company providing internet services to over 4 million subscribers. He attends a meeting of the Board of Directors and they decide that they should takeover a smaller startup company called PhoneUs Lid. This means that CallMe Lid will be buying up the shares in PhoneUS Ltd. The renowned share trader Rene Rivkin has explained that its good to buy shares in a company that is likely to be taken over because its considered a bargain by the predator company and the share price usually rises once it is known to the public. Snake understands that once the public becomes aware of the intention to takeover PhoneUS Lid then investors will rush in to take advantage of the price rise. He decides to take advantage of this information.. He leaves the Board meeting and buys 50,000 shares in PhoneUS Lid before the decision of the Board is made available to the public. He makes a nice profit of over $50,000. You have been asked to explain the case involving Steve Vizard to decide if Snake has breached the law