Let's say I'm a skilled PI who has, through detailed investigation followed a paper trail back and discovered that Soylent Green is people! (err..spoiler warning?)
I am now aware of information that is not public knowledge, but I have not 'stolen' it from a company, as I have generated this knowledge through personal investigation and research. However, I was only able to prove something was wrong after capturing photos while doing surveillance of a suspected location, so my knowledge is not just deduction from publicly available records.
I'm now in the process of trying to get the local news agency to take me seriously and warn everyone about the news. However, while I do this I also decide to short sell Soylent LTD, after all I need to cover my own business expenses somehow. If it's relevant let's say I have strong evidence that my investigation and leaking of the knowledge was originally done out of an honest intent to warn people about the company, since intent of leaking information seems to matter in case law (the 2014 court case).
Could I be found guilty of unlawful insider trading for short selling the companies stocks?