Question 7 5 pts True or False? On the "tipper/tippee" theory of insider trading, a tipper can be held liable if she clearly breaches her fiduciary duty to her company to maintain the confidentiality of material, nonpublic information, irrespective of whether she intends to gain some tangible financial or reputational benefit from the disclosure. True. O False. Question 8 5 pts Which of the following is a reason a court may "pierce the corporate veil" of a corporation, LLP, or LLC, to impose personal liability on the individual investors in the entity? O Regular failure to observe legal formalities such as conducting required annual meetings. O Commingling of investors' personal assets and corporate assets. O Failure to reasonably capitalize the enterprise. O All of the above. Question 9 Which of the following is true of S corporations? O Foreign citizens cannot be shareholders. O All shareholders in the corporation must be members of the same profession. O There are no limits to the number of shareholders the corporation may have. O S corporations, unlike C corporations, are not pass-through tax entities. O All of the above. 5 pts