Essay about Texas Gulf Sulphur Case Study - 690 Words

Case Study #1 #1- Did any of the following individuals in Texas Gulf Sulphur violate civil or criminal law by breaching a Fiduciary duty or engaging in insider trading: Drake: A geologist and junior member of the exploration group who was authorized with confidential information. Although Stephens made it clear that the information about the Canadian Shield should be kept within the selected group of employees, Drake desecrated a Civil Law, the Security Law; and became an inside trader by making Investment decisions based on information that the general public was not aware of.†¦show more content†¦Huntington: He was the corporate attorney of TGS. You would think that as an attorney he knows that his job is to look for the benefits of the company. As like the president the attorney can’t do anything that’s against the interest of the company. Huntington has never before bought calls on any stock, but knowing that what he was doing was against the law, he still went ahead and bought 100 shares of TGS stock. Huntington was involved in insider trading. #2- What is your assessment of the Texas Gulf Sulphur press release of April 12? My assessment on the Texas Gulf Sulphur press release of April 12 was that due to the rumors that â€Å"a major ore strike is I the making,† and the unauthorized report being published, there was an actual press release. In my opinion, if it wasn’t because of all the rumors Stephens, Fogarty, and Huntington wouldn’t have agreed to have a press release, which was only held to stop the rumors and give false information to the world on their discovery. #3- Did Martha Stewart engage in insider trading? If so, by what theory? 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