This is a case about a hacker who stole sensitive pre-announcement information from a company with weak security controls.  The hacker invested on the likelihood that the stock prices would tumble and made close to $300,000 in the process.  The courts ruled in favor of the hacker allowing him to keep the money and since he's in the Ukraine he probably won't be proscecuted.

I feel the judge made an error, in evaluating the case.  Most likely the ruling was based on the wording, rather than the spirit of the law.  Whether sensitive stock valuation information is shared or stolen in an unauthorized manner -- it still violates laws applicable for insider trading. The SEC should strengthen applicable wording to prevent re-occurrences in the future.     

SEC looses insider trading computer hacking case
http://www.theregister.co.uk/2008/02/19/insider_trading_catch22/