He may have showed off the iPhone, but he also tried contacting Apple. As long as part of the agreement with Gizmodo was to get the phone back to the proper owner I see no illegal activity.
You are confusing that Gizmodo reported and what really happened.
Consider everything you read from Gizmodo as incorrect and go read the real story.
The roommate (the female) was in contact with Apple, if they had tried to return the phone and really wanted to return it to Apple there would have been no story. She could have had it back to Apple in a day or less... The guy (Hogan) refused...
The guy (Hogan) did not try to return the phone, The guy (Hogans Roommate) that Gizmodo claims called Apple, did not call them. It is clear if you read the police report.
I predict all the people get 1 year deferred and 3 years probation. Gawker has to close Gizmodo as part of the settlement of a civil case and that they have an agreement not to report on Apple Products. The owner of Gawker will agree to do this to avoid having to face criminal charges in California.
Everyone walks, no jail, no more Gizmodo and no payments to Apple.
The Gizmodo reporter looses his Job.
Hogan is haunted on the internet by this issue for his entire career.
The female roommate should sue Hogan for damages.
The second roommate is also haunted.
The owner of Gawker, keeps selling smut and keeps making money.
He in the end used the Gizmodo dude who is the real looser in all this for working for a rag.