Janice, ... "Not very exciting." I disagree.
For Frizzell to sign a non-disclosure agreement while under contract with CMKX shareholders whereby he will learn information about the company that he cannot disclose to his clients/shareholders, is, IMO, a BIG ethical violation.
Frizzell's duty of undivided loyalty is to his clients/shareholders. He cannot secretly agree with the person he is investgating for his clients/shareholders that anything he learns will not be disclosed to them. It was, pure and simple, a conflict of interest. ... eom