Though your question is not directed at me, the answer is NO, it would not be legal. But, S&L has joined the ranks of the shareholders. He should not be overtly privy.

However, if he were privy, and continued his trend of selling, selling, selling, I doubt anything would come of it regardless of the numbers in April. It's a trend.

Now, if S&L were BUYING shares during this period, IMO he'd potentially be in very hot water.

JMHO,

SGE