Was it legal and ethical for you to make the stock purchase

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Reference no: EM133654160

Problem: Your former employer currently is being sued by its customer. Brozdang, Inc., for selling it defective merchandise. Brozdang is a publicly traded company. You worked as a staff accountant for your former employer for about one year, but quit a few months ago because you thought he was a "lyin', cheatin' piece of dirt." This employer's reputation for being unethical was well known in the industry. You expect Brozdang to win its lawsuit and recover enough damages to move its stock price upward. As a result, you bought outstanding shares of the customer's stock in anticipation of it winning its lawsuit. Was it legal and ethical for you to make this stock purchase?

Reference no: EM133654160

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