Respond to the following situation at your large manufacturing corporation - You are a member of a team of compliance officers. You learn that Brittany Jones, a long-time manager, told her personal friend, Louis, about confidential corporate planning information. This information relates to the planned construction of a new facility, which is being built to take advantage of newly-signed production contracts. Brittany told Louis to keep the information to himself, but Louis told James. Soon after learning the news, James traded and profited. There are two parts to address in your post: (1) Evaluate the situation. Has there been a violation of securities law? Use the legal theories of insider trading and explain whether Brittany, Louis, and/or James is liable. (2) Then, consider insider trading laws and penalties [disgorgement (return of profits), fines, and incarceration). Should insider trading be prosecuted as a crime? What other ways might be used to address (prevent, and/or deter) insider trading? Explain your ideas