Information

For example, information that would alter a company’s share price. Eg that another company had made approaches to takeover the business or for a pharmaceutical company information showing that a new drug was effective/not effective.

In general, this information should not be disclosed to individuals unless they have a legitimate reason to know eg, the takeover approach might be disclosed to the company’s financial advisors. At some point, this type of information has to be disclosed more widely, but should be disclosed to everyone at the same time so that certain people are not favoured.