Lewis is a director of Mines & Refineries,Inc. Using information that is not available to the public,Lewis makes a profit trading in Mines & Refineries securities. Lewis is most likely liable for breach of

Question

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Lewis is liable for breach of the duty of loyalty. As a director, Lewis owes a fiduciary duty of loyalty to the company and its shareholders. Using insider information for personal gains is a violation of this duty. The duty of loyalty requires directors to act in good faith and in the best interest of the company and its shareholders.

Lewis Is a Director of Mines & Refineries,Inc