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Question 5 3 pts Jim hears from his friend John that John's father (Bob)'s company TrueFlight Golf Equipment (TGE) is about to announce a major

Question 5 3 pts Jim hears from his friend John that John's father (Bob)'s company TrueFlight Golf Equipment (TGE) is about to announce a major improvement in its annual earnings. Jim quickly buys 1,000 shares of TGE at $12 per share. Following the earnings announcement, TGE stock rises to $16 per share. Jim sells his shares at $16 per share and pockets a gain of $4 per share (for a total gain of $4,000). The entire episode took only 3 days! Based on current securities law in the United States, which of the following statements is most true? O Jim is guilty of illegal insider trading O Bob is guilty of illegal insider trading, but Jim is innocent. Jim has conducted a completely legal insider trade Jim's trade is considered legal and is not considered an insider trade because Jim does not work for TGE

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