Education unlimited Inc. produces very specialized adaptive educational products. The CFO of Education unlimited Inc. Bill M became aware that a major customer of theirs is closing a majority of their academic campuses and thus the demand for Education unlimited products is likely to be affected significantly. Education unlimited Inc. president and CEO, Jon M, was very concerned but still asked Bill not to disclose that information due to the potential effect on the stock price. To make things worse for Education unlimited Inc. questions about the efficacy of the adaptive products is being questioned by the vice president for assessment Doug M , which if valid is likely to affect the demand for the products even further. Jason M, the company’s production manager, hears the announcement of the campus closing and stops Bill M inquiring about the truth of the campus closing and the efficacy issues.
Are there any ethical issues, should any of this information be disclosed to the public and what is the position of the relevant professional body (the IMA) ?