Perhaps he sensed that he was doing wrong --that he may get caught -- that it was not worth the risk -- and thus he decided to reverse the trade prior to the announcement.
However, he was still guilty of insider trading because he profited.
He admitted inside knowledge of the deal in the interview with Denton. Ridge spotted that well.
He's as guilty as can be.
Cheers,
nickoo
rivkin fessed up to denton, page-5
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