Ana Is the President of PJL Corporation

Ana is the president of PJL Corporation. In November, her assistant Damon tells her that B2B Corporation is planning a tender offer and that it has presented an offer to shareholders. Ana tells him that they should keep information regarding PJL Corporation as quiet as possible until the end of the year because she does not want shareholders to find out any negative information regarding PJL Corporation's poor performance in the last few months. Which of the following is true regarding Ana's plan?

A) It is a good plan only if a close corporation is involved; otherwise, Ana has a duty to reveal all pertinent facts to shareholders.
B) It is a good plan only if an S Corporation is involved; otherwise, Ana has a duty to reveal all pertinent facts to shareholders.
C) It is a good plan only if the corporation is new, meaning that it has been incorporated under one year; otherwise, Ana has a duty to reveal all pertinent facts to shareholders.
D) It is a bad plan because Ana must at least inform the shareholders that she is withholding information until the end of the year.
E) It is a bad plan because once an aggressor has presented its offer to the target corporation's shareholders, the target corporation's board of directors must inform shareholders of all facts pertinent to voting.