This case talks about Donal C. Hoodes who was CFO of Sullair Corporation. Hoodes was allowed to purchased stock from a company at a discount.

This case talks about Donal C. Hoodes who was CFO of Sullair Corporation. Hoodes was allowed to purchased stock from a company at a discount. Hoodes sold 6,000 shares of Sullair common stock for $38,350. Sullair terminated Hoodes as CFO of the company (reason not explained or stated in the case). Soon after being terminated Hoodes purchased $6,000 shares of Sullair that cost Hoodes $3.01 per share ($18,060) at the time they were sharing 4.50 per share ($27,000). Hoodes had no material non-public information about the company when he sold or purchased securities if Sullair. Who wins