I could give you at least one counter-example, ie a real court case from 2017 where two specific entities secretly coordinated a trade for stock in one of them on material and non-public information and was determined legal. (Obviously it went to court because people like you abound, who believe that a complex matters like inside trading come down to "material" and "non-public".)
I'm not going to give you that example though, because I take issue with your arrogance, ie authoritatively claiming that someone has zero facts on their side when you have no idea what you're talking about :-)
I could give you at least one counter-example, ie a real court case from 2017 where two specific entities secretly coordinated a trade for stock in one of them on material and non-public information and was determined legal. (Obviously it went to court because people like you abound, who believe that a complex matters like inside trading come down to "material" and "non-public".)
I'm not going to give you that example though, because I take issue with your arrogance, ie authoritatively claiming that someone has zero facts on their side when you have no idea what you're talking about :-)