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6 Cards in this Set
- Front
- Back
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SECURITIES, SECTION 16B
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Aimed at Speculation (Strict Liability)—Provides a remedy for corporations (and via a derivative suit) to recover “profits” gained by certain insiders from buying and selling the corporation’s stock.
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SECURITIES, SECTION 16B, Elements
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Publicly Held, Purchase / Sale within 6 months, Equity Security, Profit Realized
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SECURITIES, SECTION 16B, Publicly Held
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Publicly held corporations with more than $10M in assets—AND—at least 2000 shareholders in any outstanding class OR whose shares are traded on a national exchange.
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SECURITIES, SECTION 16B, Purchase / Sale within 6 months
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no fraud or inside information is needed.
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SECURITIES, SECTION 16B, Profit Realized
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Profit can be either a gain or an avoided loss. It is the highest price – lowest price for any six-month period.
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SECURITIES, SECTION 16B, Defendants
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Director when bought OR sold, Officer when bought OR sold, or shareholder who owns more than 10% BOTH when bought AND sold.
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