Lund was the CEO of Verit Co.Lund was contacted by Horowitz,the CEO and Chairman of the Board of P & F.Horowitz told Lund of an opportunity P & F had to buy into a Las Vegas casino.Lund immediately purchased 10,000 shares of P & F.Three days after Lund's purchase,P & F announced its intentions to enter into a joint venture for a Las Vegas casino.Lund was then able to sell his shares for considerable profit.Discuss the propriety of Lund's actions under the 1934 Act.
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