[mannykannot]

I am not taking a position here on the proposition that Peltz needed to know when the information would be published in order to profit. I am pointing out that, even without being explicitly told by the journalist, he could be reasonably sure that publication would occur quickly, if at all. He could also be reasonably confident that it would be published, given that it is valuable information, and that Bloomberg had demonstrated its confidence in his leaks by publising earlier ones.

The feds may well, of course, have independent non-circumstantial evidence of the journalist informing Peltz about when the information would be published.