Q: If insider trading information was actually reflected in public information, is it still legal to trade off of it?
A: The insider trading violation is based upon trading with non-public information. However, if you are an officer, director, or in a fiduciary relationship or tipped by someone in that capacity, you my be accused of having other non-public information upon which you traded and still have a problem even though you claim you only traded based upon public information.
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