The Supreme Court has ruled that for someone to be guilty of insider trading, the person must violate a fiduciary duty not to use the inside information.

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This is true. In the landmark case of Dirks v. SEC (1983), the Supreme Court established that insider trading violations require a breach of fiduciary duty. This means that the person who trades on inside information must have a duty of trust and confidence towards the source of the information, such as a company or its shareholders. This fiduciary duty can arise from an employment relationship, a business relationship, or a personal relationship of trust and confidence. If the insider breaches this duty by trading on the information for personal gain, they may be liable for insider trading.

The Supreme Court Has Ruled That for Someone to Be