That crossed my mind too, when I first read the response - in...

That crossed my mind too, when I first read the response - in that maybe there should be a trading halt earlier. Then I thought about it some more, and I can't think of a "perfect" scenario. Should they suspend as soon as wafers are received? Or when they run the first test?

Imagine the frustration of holders if they suspended for (up to) 3 months for every platform lot. I came to the conclusion that their response makes sense, specifically with the use of "whether or not the initial preliminary results were information which a reasonable person would expect to have a material effect on the price".

If, hypothetically, someone bought in based on something "through the grapevine" after initial tests, they take on the risk that subsequent testing could have proven initial results wrong. Repeated and consistent testing is required to confirm results. Also, why should they do anything differently other than the industry standard?