[rich_sasha]

> if they use illegal monitoring devices, hacking for info etc, they may fall afoul of federal espionage, wiretapping or CFFA, but it would still not be insider trading.

Thats an interesting point, if I hack the CEO’s phone and get the earnings number a day ahead, then trade off them, I kind of wonder how that isnt insider information.

Although laws around that are so odd, especially in US, that it wouldn’t surprise me.

[btown]

The SEC has historically treated hacked earnings reports as material non-public information, so the post you're replying to is incorrect: https://www.lexology.com/library/detail.aspx?g=fd5d5ca7-20c5...

(not a lawyer, not legal advice)