Following his accounting firm's audit team being hired by Canuck Inc.to review Northern Ltd.'s books,Tysan contacted several members he knew in the profession,advising them to buy Northern's shares.Trading in Northern's stock notably increased in ensuing weeks,driving the share price up,making it more expensive for Canuck to complete the takeover and prompting the securities commission to investigate.What did the securities commission find with respect to Tysan?
A) The firm will avoid vicarious liability,as Tysan acted independently.
B) The firm employing Tysan,not Tysan,owed a fiduciary duty to Canuck.
C) Tysan breached the fiduciary duty to maintain confidentiality of client information.
D) The claimant's loss was too remote from the professional's actions.
Correct Answer:
Verified
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