Manuela, a Director of Beta Company, buys 20,000 shares of her company\'s stock
ID: 2526628 • Letter: M
Question
Manuela, a Director of Beta Company, buys 20,000 shares of her company's stock in June at $10 a share. In September , her uninsured second home in Florida is destroyed in a hurricane. To raise money for rebuilding, she sells her stock for $12 a share, making a profit of $40,000. She reported her trade to the SEC within two business days. Has Manuela violated any securities laws ?
a. No, she never filed a false or misleading statement with the SEC
b. She reported her trade to the SEC within two business days
c. Yes, she sold stock within a six month period and she must turn profits over to her company
d. None of the above
Explanation / Answer
b.she reported her trade to the SEC within business two days.
Because she has reported with SEC and if one has reported her trade ,hence it is allowed