In Responding to this Assignment, be sure it is APA compliant in every way. Please make sure your response is complete defining any legal terms used with the proper elements of the legal theory discussed.

ABC Corporation $("$ABC$"),$ a midsized corporation incorporated under the laws of the State of Imagination, is a software company. The State of Imagination follows the Model Business Corporations Act.

ABC has been in the news for the past year and a half because it is a star in launching new software products. Recently, after about two months of steady publicity, ABC released its newest product, Web Alert. Web Alert is designed to alert parents when their children have contacted inappropriate Internet sites.

Peter Piper is an investor looking to "make it big" in the stock market. Peter saw the publicity about Web Alert and invested a substantial sum of money in purchasing stock in ABC prior to release of Web Alert, hoping to make a hefty return on his investment.

Unfortunately, on the day that Web Alert was released, ABC's largest competitor, XYZ Corporation, released a similar product called Mommy Watch. All of the trade papers and news media called Mommy Watch the most innovative product of the decade. The positive press for Mommy Watch and XYZ Corporation sent its stock soaring and the stock of ABC, its competitor, plunging.

Peter is disgusted. He thinks that the Board of Directors and the officers of ABC should have seen this coming, and that they improperly failed to take action to prevent the stock from plummeting. He wants to sue ABC because he has lost a substantial amount of money due to the drop in value of the stock. He is certain that other investors in ABC lost money as well.