He and his friends probably took plea agreements. There is nothing that says the feds can't pursue bad cases, and if you don't take it to trial, then you go to

He and his friends probably took plea agreements. There is nothing that says the feds can't pursue bad cases, and if you don't take it to trial, then you go to prison. But according to the most recent rulings, there are only very limited circumstances where someone can be convicted on insider trading.