use IRac method please and thanks

3. Keith Loeb and his wife own stock in Waldbaum, Inc., a publicly traded company in the supermarket business. Robert Chestman is Loeb's stockbroker. Chestman is aware that Loeb's wife is the granddaughter of Julia Waldbaum, a member of the board of directors of Waldbaum and the wife of its founder. Julia is also the mother of Ira Waldbaum, the president and controlling shareholder of Waldbaum. During a four year period, Chestman executed several transactions involving Waldbaum's stock for Keith Loeb. Subsequently, Ira Waldbaum agreed to sell Waldbaum to a buyer which would result in a stock purchase agreement selling the Waldbaum's shares for $50 per share. Ira told three of his children about the pending sale and admonished them to keep the news quiet until a public announcement. He also told his sister, Shirley Witkin, about the sale and cautioned her not to discuss it because it was to remain confidential. Ignoring that advice, Shirley told her daughter, Susan, that Ira was selling the company. Shurley warned her daughter not to tell anyone except her husband, Keith Loeb, because disclosure could ruin the sale. The next day Susan told Keith about the pending sale, but told him not to tell anyone. The following day, Keith Loeb says he talked with Chestman and told him that Waldbaum was about to be sold at a substantially higher price than its market value. Loeb asked Chestman what he thought.he should do, and Chestman responded that he could not tell Loeb what to do in a situation like this. After the phone call, Chestman bought 3,000 shares of Waldbaum at $24.65 per share and purchased an additional 8,000 shares for his clients with 1,000 of those shares going to Keith Loeb. Did Keith Loeb act ethically with regard to what he told Chestman? Did Robert Chestman act ethically with regard to the information he received from Loeb? Is this case different than Tennant v. Advance Machine Co., Inc.? 3. Keith Loeb and his wife own stock in Waldbaum, Inc., a publicly traded company in the supermarket business. Robert Chestman is Loeb's stockbroker. Chestman is aware that Loeb's wife is the granddaughter of Julia Waldbaum, a member of the board of directors of Waldbaum and the wife of its founder. Julia is also the mother of Ira Waldbaum, the president and controlling shareholder of Waldbaum. During a four year period, Chestman executed several transactions involving Waldbaum's stock for Keith Loeb. Subsequently, Ira Waldbaum agreed to sell Waldbaum to a buyer which would result in a stock purchase agreement selling the Waldbaum's shares for $50 per share. Ira told three of his children about the pending sale and admonished them to keep the news quiet until a public announcement. He also told his sister, Shirley Witkin, about the sale and cautioned her not to discuss it because it was to remain confidential. Ignoring that advice, Shirley told her daughter, Susan, that Ira was selling the company. Shurley warned her daughter not to tell anyone except her husband, Keith Loeb, because disclosure could ruin the sale. The next day Susan told Keith about the pending sale, but told him not to tell anyone. The following day, Keith Loeb says he talked with Chestman and told him that Waldbaum was about to be sold at a substantially higher price than its market value. Loeb asked Chestman what he thought.he should do, and Chestman responded that he could not tell Loeb what to do in a situation like this. After the phone call, Chestman bought 3,000 shares of Waldbaum at $24.65 per share and purchased an additional 8,000 shares for his clients with 1,000 of those shares going to Keith Loeb. Did Keith Loeb act ethically with regard to what he told Chestman? Did Robert Chestman act ethically with regard to the information he received from Loeb? Is this case different than Tennant v. Advance Machine Co., Inc