Use Salman v. United States case study in order to answer the following questions: 1. Lee is an…

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Use Salman v. United States case study in order to answer the following questions:

1. Lee is an officer of Magma Oil, Inc. Lee knows that a Magma geologist has just discovered a new deposit of oil. Can Lee take advantage of this information to buy and sell Magma stock? Why or why not?

2. Did Hassan Salman violate the Rule 10 (b) -5 when he traded on insider information from another person who got the information from Salman’s brother-in-law even though the brother-in-law received nothing tangible in return? Why or why not?