Remember Drexel Burnham? They did a lot of bad things and went bankrupt because of them. They also forced the government to create a series of laws specifically targeted against insider trading. Broadly put, the law provides for remedies against anyone who benefits from insider trading and those penalties are severe. If you break them, just hope that you look good in stripes.
The key elements of the law revolve around the definition and application of what is public or non-public...
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