Legal Question in Securities Law in Pennsylvania

Re: insider trading

Who is "they"??? Told them what?

Is this information from a broker? From an employee of a company???

If an employee or counsel for a company gave certain information to someone who had reason to know that the information involved was of a confidential nature not available to someone outside of the company (companies routinely are required to disclose information that is very valuable...), then they MIGHT be guilty of insider trading. The person would need to someone in a position to know real information, not what roumors are flying around a company.

This can not be properly answered because there are too many unanswered questions. Sorry.