Hello please i need help answering the last question

#4: If the rumors had been ignored by the market, would this change your view of Jakob?s actions?

Thank You

EMULEX AND MARK JAKOB: MARKET MANIPULATION WITH FALSE INFORMATION In August 2001, Mark Jakob was a 23-year-old student at El Camino Community College in California. He had no background in investments. He worked part-time at Internet Wire, a company that distributed press releases on the Internet. The same day that Jakob left his job at Internet Wire, he shorted 3,000 shares of Emulex, another Internet company. By shorting the stock, Jakob was betting that the stock price would decline. However, the price increased; within a week, Jakob had $97,000 in losses. After market closing, Jakob sent an e-mail to Internet Wire under the guise of a public relations firm stating that Emulex was under investigation by the SEC for faulty accounting practices, were restating their earnings, and their CEO was resigning. Bloomberg and Dow Jones news services reported these \"rumors\" to be valid. At the market open, Emulex stock plummeted from $113 to $43 (a 62 percent decline), costing the company nearly $2.45 billion of its market value. Later that day, Jakob closed out his short position and made more than $54,700. He then purchased 3,500 shares. The following day, after the company dispelled the rumors, he sold these shares and made a total of $187,000. Authorities quickly traced the e-mails back to El Camino College and, using the trades in Emulex, located Jakob as the source of the rumors. Convicted of securities and mail fraud, Jakob was sentenced to 44 months in prison, had to forfeit his profits, and was forced to pay over $103,000 in penalties for his illegal actions. ASSIGNMENT: Read FBI Arrest Jacob in Emulex Case and FBI Agent Describes Emulex Stock Hoax to Students. These two readings are available in PDF on the D2L website for the course. You may also use other sources of information regarding the Emulex stock hoax. Questions appear in the two pages below. Use Word to create your answers and enter your answer following each question. Make sure to type your name at the top of the first page. Print these two pages and turn in printed copy in class on Monday, April 25. There are 4 questions and up to 15 points can be earned for each question based on content and the quality of your answer. The remaining 20 points will be awarded based on an assessment of your writing skill. Points will be lost for spelling, punctuation, and grammatical errors. You will also be penalized if you fail to turn in printed copy of your answers on the due date. Name: 1. Should Jakob's age and background in investments affect his culpability? 2. What responsibility do you believe Dow Jones and Bloomberg news services had in the scheme? 3. What is the ethical difference between what Jakob did and posting an opinion about a stock on a blog or Internet bulletin board? 4. If the rumors had been ignored by the market, would this change your view of Jakob's actions