A difficulty with the charge of "insider trading" is this: what constitutes "insider" knowledge? No one expects people who trade in stocks to do so in the absence of information, or purely on the information available in the newspaper. Many people call the company in question, locate a key employee, and ask questions. The trader often just announces that he's interested in buying stock, and would like to know "how it's going" or "how is xyz proceeding?" On the other hand, accessing confidential or proprietary information though a ruse strikes me as fraud. So to my mind, it is important to know whether the information obtained by these six accused individuals was of the latter sort, or whether I could have obtained the information on a few phone calls.