It's bad to commit crimes.
Warren is a powerful CEO and is in the process of acquiring a large company.
Warren wants to let others know about the big news.
Warren tells his friends that he has big news coming, but he doesn't tell them what the news is.
Warren tells his friends every detail so that they invest in Warren's company before the big news is announced.
Warren is following SEC regulations and will not find himself in any trouble.
Warren is not following insider trading laws and is putting his company at risk.