Patti Sclerera is a broker who has listed 3.3 acres of commercial property for John Symington. Patti owns the majority of the stock of a corporation, Children, Inc, that develops, manufactures and sells educational toys. Patti thinks the land would be a good location for a new factory. Patti is a member of the board of Children, Inc and knows the board is looking for land for the factory. If Patti arranges the sale:
A) She is required to disclose her stock ownership and board membership.
B) She is only required to disclose her board membership.
C) She is only required to disclose her stock ownership.
D) She has no disclosure requirements since she is not buying the land.
E)None of the above
Question 2
Which of the following acts was passed to ensure that public shareholders faced with a cash tender offer would not be required to respond without sufficient information?
A) the Mann Act
B) the Robinson-Patman Act
C) the Williams Act
D) the SEC Act
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