QUESTION 46 Ralph, a salesperson for Southwest Corporation, learns that Southwest will be merging with Northeast Corporation. Ralph buys 1,000 shares of Southwest stock. When the price of the Southwest stock increases, Ralph sells his shares for a profit. Ralph would not be liable for insider trading if the information about the merger was a. material when he sold the stock. b. public after he bought the stock. c. inside information. Od. public before he bought the stock.