> "Misappropriating company information" isn't a great justification because insider trading is still illegal even if a company explicitly allowed employees to

> "Misappropriating company information" isn't a great justification because insider trading is still illegal even if a company explicitly allowed employees to trade on nonpublic information. I can't think of a reason why it would ever be in shareholders' interests to allow insider trading. If a company did ever allow it, it would likely either be a case of company officers misappropriating information from shareholders or a case of majority shareholders misappropriating information from minority shareholders.