Fact Pattern 27-1

Multiple Choice

Fact Pattern 27-1
Sid,a director of Tech Software Company,learns that a Tech engineer has developed a new,exciting video game.Sid buys Tech stock and tells his friend Uri,who also buys Tech stock.When the new game is released three weeks later,Sid and Uri sell their stock for a big profit.
-Refer to Fact Pattern 27-1.Under SEC Rule l0b-5,Sid would not be li?able if he had waited to buy Tech stock until

A) after Sid told Uri of the new game.
B) after Uri bought Tech stock.
C) after the public release of the game.
D) just before the game was released.