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  1. Texas Gulf Sulfur (TGS) and Insider Trading

    In 1957, the mining company, Texas Gulf Sulfur (TGS), was considered the world’s biggest sulfur mining organization. The goal of this paper is to identify whether individuals including Drake, Stephens, Crawford and Huntington from the TGS Company violated civil or criminal laws through violating a fiduciary responsibility or taking part in insider trading.

    Drake

    Drake was a geologist and subordinate associate of the exploration who was certified with classified information. Even though Stephens emphasized that the information regarding the Canadian Shield be reserved within the preferred team of the workforce, Drake violated the Civil Law, the security law and participated in insider trading through making investment decisions founded on information that the general community was not conscious of. Recognizing that he was not obliged to share the information, he still went ahead, which resulted in his contract breaching.

    Stephens

    Stephens was the President of the TGS. He was the one who ordered the outcomes or information to be classified. Being the head of the organization, Stephens was obliged to acquire an enhance levels of integrity and complete disclosure in consideration of his Board of Directors, stakeholders and client among other members. Regardless of the fact that Stephens did not participate in insider trading, his disclosure with the finding of the copper ore to the board places him in a bind because of his stock preferences. 

    Crawford

    Crawford was the public relation manager in TGS. On 15th April before midnight, Crawford called his stockbroker and placed a purchase order for three-hundred shares of Texas Gulf Sulfur. Crawford desecrated the Civil Law by participating in the insider trading. With the instructions to purchase at the opening of the stock trade, Crawford placed a buy order for the company’s shares. The SEC brought an action against Crawford for insider trading, in infringement of Section 10(b) of the Securities Exchange Act of 1934.

    Huntington

    Huntington was TGS’s corporate attorney. One can assume that as an attorney, Huntington was aware that his duty is to look for the organization’s benefits. Contrasted to the president, the attorney cannot conduct any activities that go against the company’s interest. Huntington had never before purchased calls on any stock. However, regardless of being aware that his actions violate the law, he proceeded and purchased one hundred shares of TGS, thus involving him in insider trading.

     

 

Subject Law and giovernance Pages 2 Style APA

Answer

Texas Gulf Sulfur (TGS) and Insider Trading

In 1957, the mining company, Texas Gulf Sulfur (TGS), was considered the world’s biggest sulfur mining organization. The goal of this paper is to identify whether individuals including Drake, Stephens, Crawford and Huntington from the TGS Company violated civil or criminal laws through violating a fiduciary responsibility or taking part in insider trading.

Drake

Drake was a geologist and subordinate associate of the exploration who was certified with classified information. Even though Stephens emphasized that the information regarding the Canadian Shield be reserved within the preferred team of the workforce, Drake violated the Civil Law, the security law and participated in insider trading through making investment decisions founded on information that the general community was not conscious of. Recognizing that he was not obliged to share the information, he still went ahead, which resulted in his contract breaching.

Stephens

Stephens was the President of the TGS. He was the one who ordered the outcomes or information to be classified. Being the head of the organization, Stephens was obliged to acquire an enhance levels of integrity and complete disclosure in consideration of his Board of Directors, stakeholders and client among other members. Regardless of the fact that Stephens did not participate in insider trading, his disclosure with the finding of the copper ore to the board places him in a bind because of his stock preferences. 

Crawford

Crawford was the public relation manager in TGS. On 15th April before midnight, Crawford called his stockbroker and placed a purchase order for three-hundred shares of Texas Gulf Sulfur. Crawford desecrated the Civil Law by participating in the insider trading. With the instructions to purchase at the opening of the stock trade, Crawford placed a buy order for the company’s shares. The SEC brought an action against Crawford for insider trading, in infringement of Section 10(b) of the Securities Exchange Act of 1934.

Huntington

Huntington was TGS’s corporate attorney. One can assume that as an attorney, Huntington was aware that his duty is to look for the organization’s benefits. Contrasted to the president, the attorney cannot conduct any activities that go against the company’s interest. Huntington had never before purchased calls on any stock. However, regardless of being aware that his actions violate the law, he proceeded and purchased one hundred shares of TGS, thus involving him in insider trading.

 

References

 

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