This is amusing. Probably as amusing as me posting my expert opinion about multiple sclerosis clinical practice.
I have provided my research on this a couple of years ago on this thread, so I invite you to look up my older posts -- I am not going to repeat myself. Cases on point have held that good corporate material news need not be immediately disclosed for the reason Steady and I have stated.
Suffice it to say that your lay opinion of "materiality," absent the precisely appropriate context, is worthless. Prospective buyers, i.e., non-shareholders, are not in the class protected by the SEC 3-day disclosure rule. "Materiality" to prospective purchasers in the context of municipal security offerings, as discussed in a law firm's article, may sound relevant to a non-lawyer, but it isn't. Generalized Supreme Court statements on materiality that apply to an entirely different circumstance are also not relevant.
Whoever is feeding you this material to post here has done you a disservice. Or, if this is your idea of proving your legal point, you are just proving your lack of expertise and your overconfidence.
Stick to clinical trial protocols and options strategies.