He failed to follow strict and straight forward SEC rules on disclosing his purchase and then profited from not doing so. He may be able to get out of a SEC fin

He failed to follow strict and straight forward SEC rules on disclosing his purchase and then profited from not doing so. He may be able to get out of a SEC fine with some kind of excuse but it seems very unlikely the people who sold twitter shares in that period don’t have a very good case for compensation. https://www.sec.gov/Archives/edgar/data/25743/000138713113000737/ex14_02.htm https://www.sec.gov/Archives/edgar/data/25743/00013871311300... "Insider trading" refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.