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In this case, having only a pair of advisers seemed to work: word of the impending transaction emerged only on Friday when Bloomberg News reported the talks.
The case has the hallmarks of insider trading seen in recent cases: disclosure of sensitive corporate information about an impending transaction and quick trading by a hedge fund in response to it.
The case revolved around whether Mr. Cuban agreed not to trade on information about an impending transaction at Mamma.Com, an Internet search engine company in which he held a 6.3 percent stake.
It is a feel-good photograph, the artist capturing the good-natured miller (probably with a telephoto lens) in the midst, perhaps, of a conversation with friends or squinting in the devilishly harsh mountain sunlight to consider an impending transaction.
Accusing Mr. Mazzo of being a tipper rather than an innocent source means the S.E.C. will have to show that his disclosure of the impending transaction was not an accident or based on a misguided belief about the trustworthiness of a longtime friend.
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Because impending vacancies are not always publicized, it is hard for the community to have a say in individual transactions, said Valerie Lynch, executive director of the Montague Street Business Improvement District.
It was not so long ago that the prophets of globalisation proclaimed the impending decline of the nation-state and the rise of a borderless world – one modelled on the frictionless transactions of international finance, which pay no heed to state boundaries.
Impending doom?
Bernanke's impending departure.
There is an impending crisis.
Articles about the Nets' impending departure dominated news coverage across the state on Thursday, and Republican leaders were quick to say Mr. McGreevey had botched the Nets transaction and "lost a professional sports franchise".
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