federal causes of action Flashcards
1
Q
10b5 action acronym
A
BIDBIRD
P bought or sold security
interstate commerce
D deceived or fraud conduct
basic materiality
intentional or reckless D statement
P justifiable reliance
damages to P
2
Q
examples of 10b5
A
insider trading
3
Q
who to look out for with insider trading
A
insider
tippee
constructive insider
misappropriators
4
Q
who does 16b apply to
A
big boy companies
corporate insiders
short swing profits
5
Q
big boy cos
A
on national exchange
10 mil assets 500 shareholders
6
Q
corp insiders with 16b
A
directors
officers
s/h 10% stock
7
Q
what do the corp insiders have to do if they violate 16b?
A
return all profit to BA
any buying or selling within 6 month period
