Describe what law violations are evident now

Assignment Help Management Information Sys

Reference no: EM1326193

Insider Information

Mike, as corporate counsel and corporate secretary of Pandora Personal Products, has learned that insider information about his company's planned acquisition of a smaller manufacturer, Just Tweezers, Inc., has been leaked to outsiders. The leak has been traced to his son, who Mike had told about the merger in confidence. The next day (and weeks before the merger news becomes public), the price of Pandora stock rises from $15/share to $21/share and closes the day at $20.25. The official word from the company that day?and Mike drafted the "no news" news release at the request of the stock exchange?is that there is no news forthcoming and no explanation for the stock price rise.

Do you suppose Mike and may be some trouble or are things OK for now?
Anybody else maybe sweating bullets at the moment?
Explain what law violations are evident now or might become evident as the days go by.
Finally, what strategy should Mike's company employ now, keeping in mind the laws about insider trading that you've learned about.

Reference no: EM1326193

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