‘Enforcement 40’ for 2020
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By Securities Docket on January 3, 2013, 6:08 pm
By letter to the Securities and Exchange Commission (“SEC”) Chair dated December 28, 2012, the Council of Institutional Investors (”CII”) raised its concerns about the potential misuse of trading plans that are intended to satisfy the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934. CII noted that the timing of the adoption […]
By Securities Docket on December 11, 2012, 7:48 am
Federal prosecutors and securities regulators examining how executives use trading plans to buy and sell shares of their company’s stock.
By Securities Docket on April 14, 2011, 11:04 am
Alleged scheme involved purchase of shares of Eveready Inc. prior to acquisition by Clean Harbors.
By Securities Docket on July 8, 2009, 11:33 am
The July 1, 2009 dismissal of the In re Gildan Activewear, Inc. Securities Litigation class action shows that Rule 10b5-1 trading plans can help defendants negate the inference that their sales of stock are suspicious.
By Securities Docket on October 18, 2008, 9:07 am
On Thursday, the Eighth Circuit affirmed the dismissal of the securities class action against Centene and certain executives. Plaintiffs alleged, among other things, that a strong inference of scienter was demonstrated by two executives’ stock sales in April 2006. The lower court rejected this theory and the Eighth Circuit affirmed, holding that the sale of […]
By Securities Docket on September 8, 2008, 11:28 am
by Bruce Carton We previously discussed the rare bird that is Randy Repass’ “Rule 10b5-1 Buying Plan” in this article but inquiring minds want to know: Just how rare is it? In my new “Enforcement Action” blog over at Compliance Week, I pose that question with the hope of getting some feedback from other executives […]
By Securities Docket on September 2, 2008, 8:46 am
How rare are 10b5-1 trading plans for corporate executives? Not at all. Indeed, there are thousands – maybe hundreds of thousands – of such plans in existence. But what about a 10b5-1 trading plan to buy, not sell, a company’s stock? Rare enough to get its own article in the Mercury News. According to the Mercury […]