What theory might a court use to hold wallace liable

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Question 1: What theory or theories might a court use to hold Wallace liable for insider trading? The Expectancy violation theory can be used by a court to hold Wallace into account. The theory states that deception is perceived from nonverbal behavior that violates nominative expectations (Bond et al. 40). In this case, Wallace used the information during hangout for personal gain. Additionally, the court can examine the history between Wallace and Emerson's behavioral actions after business dealings or sharing crucial information pieces.

Question 2: Under the Sarbanes-Oxley Act, who would be required to certify the accuracy of the financial statements Reliant filed with the SEC . Sarbanes-Oxley Act of 2002 is a law passed in the US which helps to protect investors from dishonest financial reporting by companies. According to section 18 of the US Code, financial statements filed by the insurer must be accompanied by an acknowledgment from the insurer CEO and CFO. In this case, Emerson is the chief financial officer and must certify the company financial statement together with the chief executive officer.

Reference no: EM132900685

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