OPINION
ORRICK, District Judge.
"Insider trading" is the term commonly used to describe the act of purchasing or selling securities while in the possession of material nonpublic information about an issue or the trading market for an issuer's securities. Chief Justice Burger has described this misappropriation of valuable, nonpublic information entrusted to a person in confidence as simply "stealing." See Chiarella v. United States,
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