Maybe I underestimate the problem, but I suppose that people who read documents secret enough to require protection do not read them in public places. If the secrecy threat is the person beside you on a plane looking at your document, you simply can't solve it, as you have to disable all protection in order to read the document yourself. If the problem is that you don't want someone to access the device while you go to the restroom or to another office, a device-lock password is sufficient (but why do you leave your ereader loaded with secret corporate document around in a spy-infested environment in the first place?!).
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