Jamie is a lawyer who overhears his client discussing a confidential corporate acquisition with a business associate on his cellphone while in the waiting room. Jamie knows that the client is the CEO of publicly held Bartles, Inc., so he acquires 50,000 shares of Bartles the next day. One week later, Bartles announces the acquisition and Jamie nets a $100,000 profit. Did Jamie breach any duties or have any liability for his actions?

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The Answer of Jamie is a lawyer who overhears his client discussing a confidential corporate acquisition with a business associate on his cellphone while in the waiting room. Jamie knows that the client is the CEO of publicly held Bartles, Inc., so he acquires 50,000 shares of Bartles the next day. One week later, Bartles announces the acquisition and Jamie nets a $100,000 profit. Did Jamie breach any duties or have any liability for his actions?

Jamie Is a Lawyer Who Overhears His Client Discussing a Confidential