Aldo Is the Vice- President of Finance for Euro Mining

Aldo is the Vice- President of Finance for Euro Mining Inc, which operates several diamond mines in the Northwest Territories. He also sits on the board. One day the board heard a presentation from a geologist about a new area she had found which showed results consistent with the presence of diamonds. The board, which reviews dozens of such presentations each month, decided not to pursue exploration into the area. Aldo thought the area sounded very promising and arranged to meet with the geologist to discuss it with her. Aldo invested in a new corporation formed by the geologist to buy property in the new area. Eventually, the property was sold for a huge profit. Which of the following is TRUE?

A) Aldo breached his fiduciary duty by investing in the geologist's corporation because the board had spent time considering the opportunity.
B) Aldo breached his fiduciary duty by investing in the geologist's corporation because he found out about the opportunity through his position at Euro Mining.
C) Aldo breached his fiduciary duty by competing with Euro Mining.
D) Aldo did not breach his fiduciary duty because the opportunity ceased to belong to Euro Mining when the board decided not to pursue it.
E) Aldo breached his fiduciary duty by appropriating an opportunity belonging to Euro Mining.