If you're in Corporations...
Do two things:
a) Check your syllabus to see if you do anything on insider trading. (Mine did, I don't know if all of them do.)
b) Go read this good summary of Bill Frist's situation. (Hat tip: Prof. Bainbridge.
If you have to know this by semester's end, you might as well see how it plays out in practice now. The law in this area is interesting, intricate, and at least in some Corps classes, likely to be on the exam.