Use Salman v. United States case study in order to answer the following questions: 1. Lee is
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1. Lee is an officer of Magma Oil, Inc. Lee knows that a Magma geologist has just discovered a new deposit of oil. Can Lee take advantage of this information to buy and sell Magma stock? Why or why not?
2. Did Hassan Salman violate the Rule 10 (b) -5 when he traded on insider information from another person who got the information from Salman's brother-in-law even though the brother-in-law received nothing tangible in return? Why or why not?
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Related Book For
Business Law Today The Essentials
ISBN: 978-0324786156
9th Edition
Authors: Roger LeRoy Miller, Gaylord A. Jentz
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