Maxine Knight is an investment banker who has just completed negotiations for a merger between two major motion picture studios.Maxine lives with Ron Heywood and suggests dinner to celebrate the successful negotiations that will become public in three days.Ron celebrates with Maxine and the next morning buys substantial blocks of shares in both the firms.After the merger is announced,the value of the shares doubles.Which of the following statements is true?
A) Ron has violated Section 10(b) .
B) Ron is not an insider and therefore has not violated 10(b) .
C) Ron has probably violated Section 16.
D) none of the above
Correct Answer:
Verified
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