[BUS2] A real estate developer, Ms. Hart, approaches Mr. Lan…

[BUS2] A real estate developer, Ms. Hart, approaches Mr. Lang, an officer of Apex Manufacturing, to ask whether Apex would be interested in purchasing a parcel of land located next to Apex’s main factory. Mr. Lang realizes the land would be highly valuable to Apex for future expansion, but instead personally purchases the property in his own name and later offers to lease it to Apex at a premium rate. Which fiduciary duty has Mr. Lang most likely violated?

[BUS6] Jordan Belfort treats his brokerage firm, Stratton Oa…

[BUS6] Jordan Belfort treats his brokerage firm, Stratton Oakmont, structured as a New York C-Corporation. He uses the corporate bank account as his personal bank account, funding yachts, drugs, and parties using his corporation’s money. Jordan runs the risk of:   [Inspired by actual events and the movie “The Wolf of Wall Street.”]

[SEC3] Bud Fox, a junior stockbroker, obtains non-public inf…

[SEC3] Bud Fox, a junior stockbroker, obtains non-public information about Bluestar Airlines from his father, Carl Fox, an executive at the company. Bud shares this information with Gordon Gekko, who trades on it to make substantial profits before the information becomes public. The SEC investigates, and Gekko is eventually arrested and charged. Which of the following statements about Gekko’s legal exposure is correct? [Inspired by the movie “Wall Street.”]