Other subsidiary with the new york stock exchange

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Reference no: EM132114086

A subsidiary of X Enterprise is registered with the London Stock Exchange and other subsidiary with the New york stock exchange. X Enterprise is an energy company that has planned on heavily investing in two simultaneous untested photovoltaic projects in a weeks’ time through its subsidiaries in the UK and US. Dr. Y is a technical consultant for both project and holds 5% share of both subsidiaries. The CEO of X Enterprise shares the date when the projects would be made public with Dr. Y, The day prior to this Dr. Y sells all of the his shares in the two subsidiaries and the day the two projects are declared, the price of the each share droops by 0.5%in the New York stock Exchange and 0.0001% in the London Stock Exchange. the securities regulatory agencies in both the US and UK seek to prosecute Dr. Y on receiving a complaint from the CEO of X Enterprise. Do you think Dr. Y would be held liable for insider trading? Discuss.

Reference no: EM132114086

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