I mean, for the people in this case it seemed like that they communicated that they relied on the database access in writing somewhere that was the issue.

Surely if they, by (supposed) conjecture, figured that the company might do better if people are more dependent on phone calls in lockdown (a reasonable assumption), and there was no evidence to the contrary, how from a technical basis would it look any different from someone simply going "oh yeah my company looks like it's gonna do great, I'd recommend getting some shares"?

I wonder if this investigation would have had teeth if it had relied on coffee shop conversations as opposed to digital media.