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 stock. Lewis is most likely li?able for breach of

Question

Quizplus · Accepted Answer

The duty of loyalty requires directors to act in the best interest of the corporation and to avoid conflicts of interest. By using insider information to make a personal profit, Lewis breached his duty of loyalty to the corporation and its shareholders.

Lewis Is a Director of Mines & Refineries, Inc