Bob was CFO for a chain of Lucky Clucky chicken franchises owned by Tim. By virtue of Bob’s position as CFO, he knew that Tim was planning to open another store in a particular location. Bob hurriedly created a shell company using his wife’s maiden name as the beneficial owner and then purchased the location. The shell company then resold the property to Tim’s company a few weeks later for a greasy little profit of $172,000. What kind of purchasing scheme did Bob commit?

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: