No problem. I have lawyers who deal with that. I'll assume you are a securities lawyer because the opinion I gave you was their opinion. That's why there are courtrooms. The laws are written in black & white but their interpretation is gray.
I don't believe it strains credibility that they knew as little as the rest of us. The reason I believe that is that if they knew about the quarterly results, they would have done the placement after the announcement, not before.
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