As the testing of its new anti-arthritis drug showing results that exceeded anyones expectations, JointEase Corporation bought

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As the testing of its new anti-arthritis drug showing results that exceeded anyone’s expectations, JointEase Corporation bought back more than one third of its outstanding, publicly traded stock. As a consequence, because of the decreased supply, when the company announced the test results its stock price increased to more than double what would have been expected without the buyout. Feeling that they had been defrauded, the exshareholders who had sold their stock back to JointEase picketed outside company headquarters and complained to the media. Has the drug company done anything wrong?

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