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Rico does not work for Street Bikes Company, but wrongfully obtains inside information concerning the firm. Based on the information, Rico buys and sells Street Bikes stock for personal gain. The Securities and Exchange Commission prosecutes Rico, arguing that he is liable because he stole information rightfully belonging to another. This argument is​ __________.

Respuesta :

akindelemf

Answer:

The Misappropriation Theory

Explanation:

Misappropriation theory postulates that a person who uses insider information in trading securities has committed securities fraud against the information source.

therefore, what Rico did is known as a Misappropriation theory.

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