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Mel is the president of a small corporation




Mel is the president of a small corporation that owns and operates consumer electronics stores in several states throughout the country. Over the years while working there, Mel has purchased considerable stock in the company. However, Mel has not purchased any stock for the last four years. Mel wants to sell some stock. Mel knows that one of the retail locations where the company owns the real estate was once used as a toxic dump. The corporation is legally obligated to clean up this site, and the costs will have a material effect on the corporation's net income for several years. This information is not yet public. Mel can;A.;Sell his stock only if he gets prior clearance from the Securities and Exchange Commission.;B.;Sell his stock only if he tells the purchaser about the liability for cleaning up the toxic waste.;C.;Freely sell his stock without any liability because it has been more than six months since he purchased any stock.;D.;Sell his stock only to an accredited investor.


Paper#35535 | Written in 18-Jul-2015

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