I wonder if, in an ironic twist, they try to play the ignorance card and use the breach itself as proof.
"Of course we were ignorant of the breach, we're really just not on top of things, I mean, look at how we got into this situation, and how we handled it! Does that sound like competence to you? Of course not!"
That would be a risky defense because while they may get off on the insider trading charge, they would open themselves up to a huge shareholder lawsuit.
"Of course we were ignorant of the breach, we're really just not on top of things, I mean, look at how we got into this situation, and how we handled it! Does that sound like competence to you? Of course not!"