Originally posted on 08/09/2018:

Quote Originally Posted by d2bets View Post
Right, but suppose he says now that he told his son NOT to sell and that his son sold even though he told him he couldn't? Doesn't help his son, but is that a defense for him?
Jury won't buy it even if that's what happened.

He was required to act lawfully with the privileged information. He should not have phoned, texted, email or had any contact out of the ordinary with anyone connected to the company.

His only successful defense would be to show these other people received(or likely received) this information from another source. IE. the person who gave him the info was chatty and the information was known by sources who had connections to the son.

I dealt with this issue. I would never tip off a board member if there was a chance he could trade, ie during market hours. So there is already something wrong here. Then there is a question of the accountants and CFO and who knew what & when.