As a small trader, I would never say that any information I could get was nonmaterial. I could not get the information the SNH's had. If I had that information, ,even though I'm not a market genius, I could have simply looked at the trades and said whoa, somebody is buying mucho PIERS, I may want to jump in on that one.
If they traded with non-public information, the JMW better be real careful and not blindly rule it was not material. Common sense hopefully should cause her to rule on the side of caution and assume it was material unless all trading records indicate otherwise. Since I'm sure that every trade during the questionable periods cannot be accounted for, again she better play it safe and send a message that any even slight hint of improper trading is going to be questioned very thoroughly.
Back to lurking. I really appreciate the insight so many contribute, but man, the longer this goes on, the more angry and frustrated I become with this case, our government and society as a whole that we are even still here. This thing could have been settled long ago, where the big boys would still profit and those individuals who lost so much in the takeover could at least be made partially compensated for their losses. I hope when the time comes, they can somehow be made whole.
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