Keep in mind that many private companies are family owned, so nobody outside of a very few might actually own 'shares' in that company.
So it sounds official and all, but the 'management,' 'shareholders' and 'board of directors' may only be the same 2-3 people.
That said, if those 2-3 people are buying shares of GRDO, I would think that is not legal.
GLTA
Always remember you are unique, just like everybody else.