Multiple Choice
Ralph Newsome is an employee at Quest Industries. In the men's room he overhears two officers discussing a merger that they say will be announced in two days. Ralph purchases 1,000 shares of Quest. When the merger is announced, Quest's stock has a 15% bounce in value.
A) Ralph has engaged in insider trading.
B) Ralph simply overheard a conversation and can trade on that information.
C) Ralph is not an officer and can trade in advance of announcements.
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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