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Gianna Tuck is an accountant for Post Pharmaceuticals. Her duties include tracking research and development spending in the new product development division. Over the course of the past six months, Gianna notices that a great deal of funds have been spent on a particular project for a new drug. She hears "through the grapevine" that the company is about to patent the drug and expects it to be a major advance in antibiotics. Gianna believes that this new drug will greatly improve company performance and will cause the company's stock to increase in value. Gianna decides to purchase shares of Post in order to benefit from this expected increase.
What are Gianna's ethical responsbilities, if any; with respect to the information she has learned through her duties as an accountant for Post Pharmaceuticals? What are the implications to her planned purchase of Post shares? But what if she buys the stock, the drug is released, and the stock price drops. She loses part of her investment. Given that this is a realistic outcome, is she an illegal inside trader? Do you think that it is against the law to suggest a new drug?
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