David Gain was the chief executive officer (CEO) of Forest Media Corp., which became interested in acquiring

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David Gain was the chief executive officer (CEO) of Forest Media Corp., which became interested in acquiring RS Communications, Inc. To initiate negotiations, Gain met with Rs's CEO, Gill Raz, on Friday, July 12. Two days later, Gain phoned his brother Mark, who bought 3,800 shares of RS stock on the following Monday. Mark discussed the deal with their father, Jordan, who bought 20,000 RS shares on Thursday. On July 25, the day before the RS bid was due, Gain phoned his parents' home, and Mark bought another 3,200 RS shares. The same routine was followed over the next few days, with Gain periodically phoning Mark or Jordan, both of whom continued to buy RS shares.
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The Legal Environment of Business Text and Cases

ISBN: 978-1305967304

10th edition

Authors: Frank B. Cross, Roger LeRoy Miller

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