> Loudon and his wife generally worked in home offices within 20 feet of each other. As a result, they frequently overheard and witnessed each other’s work-related conversations and video conferences. In late December 2022, Loudon and his wife traveled to Rome, staying in a small Airbnb where Loudon’s wife regularly worked on the TA acquisition and discussed the deal while Loudon was seated nearby.

> But also: “Loudon’s wife acknowledged discussing aspects of the acquisition with Loudon during the normal course of marital communications.” This is not a case where she rigorously kept the deal secret from him, and he broke into her laptop: It’s a case where a husband and wife talked about their days, and she trusted that he would not go and insider trade on the deal. Because why would he do that? That would be crazy!