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Question
Hugh, an engineer for Innovative Corporation, learns that Innovative has developed a computer chip to triple the speed of any computer. Hugh buys 1,000 shares of Innovative stock. He tells Jen, who buys 500 shares. After the new chip is announced publicly, the price of Innovative stock increases. Hugh and Jen sell their shares for a profit. Under the Securities Exchange Act of 1934, liability may be imposed ona. Hugh and Jen.
b. Hugh only.
c. Jen only.
d. neither Hugh nor Jen.
Answer
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