business law

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directors and officers who exploit their positions for personal gain are violating the?
a. business judgment rule
b.fairness rule.
c.insider trading rule
d. corporate opportunity doctrine

I am fighting between C and D and not sure which one it is. But I am leaning a bit more toward C because it seems as if directors would profit from the insider trading the most. Please help?

  • business law -

    Isn't C just a part of D?

  • business law -

    To be honest with you, I have no idea. However, here is what my book says:
    Insider trading rule: manager possesses inside information not available to outsiders. Manager must either reveal the information or refrain from trading on that information.
    Corporate opportunity doctrine: manager learns of business opportunity that might reasonably interest the corporation. manager must offer the opportunity to the corporation before taking it for personal gain.
    What do you think?

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