He stated it in email. SEC wasn't on JR's email list. By all publicly announced accounts, it was totally impossible to determine if JR had canceled, postponed, continued, or finished the BB.
Under normal circumstances, the SEC would probably never have known the difference, or thought twice about it. You can be sure however, that if MMG made a big deal outta KMAG's buyback thru their venues, they damn sure pushed it hard, in front of the SEC. What probably tipped the balance was when the SEC saw the filing with 140M new shares, and no mention of the insider buying. Red flags went off for everyone including the SEC.
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