Courts are rigorously literal in passing on questions of ambiguity in the questions and the response of witnesses under oath and generally give the accused the benefit of any doubt on possible interpretations of the questions and the meaning of the allegedly perjurious response.
Yet, as a result of judicial interpretations, tipping and insider trading can be severely punished underthe antifraud provisions of the federal securities laws, whereas the status of issuer selective disclosure has been considerably less clear.