How far will this drop?, page-25

Why is that statement wrong .. ASIC says "Trading is not permitted under the law in any circumstances if the person trading knows unannounced, price-sensitive information. Prior to trading, directors need to consider whether the market is fully informed of all material price-sensitive information. Such a decision is often complex, and based on the particular circumstances at the time of trading. Where the decision is a difficult one, best practice is to err on the side of caution and consider not only the law but how the trading could be perceived by the market."

Any such decision to buy shares with undisclosed price sensitive knowledge does not only have to be lawful but needs to pass the "pub test"