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Pragmatic Interpretation of Section 16(b) and the Need for Clarification

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dc.contributor.author Bateman, Hal M.
dc.date.accessioned 2010-04-01T18:28:52Z
dc.date.available 2010-04-01T18:28:52Z
dc.date.issued 1971
dc.identifier.citation 45 St. John's L. Rev. 772 en_US
dc.identifier.uri http://hdl.handle.net/10601/306
dc.description.abstract Despite its ostensible simplicity and the general wholesomeness of its stated purpose, section 16(b) of the Securities Exchange Act of 1934 has had both a litigious and a controversial history. Nevertheless, it has endured without statutory change for thirty-seven years. Designed to prevent unfair use of corporate information by insiders in short-swing, speculative trading in the securities of the company, this provision makes all profits realized by such insiders from such trading recoverable by the corporation. It is the purpose of this article to review in general outline the transition which has occurred in the courts' approach in interpreting the section, to examine some of the recent cases which have undertaken the application of the new pragmatic method of interpretation, and to comment on the directions the courts should consider in future cases. en_US
dc.language.iso en_US en_US
dc.publisher St. John's Law Review
dc.relation.uri http://www.heinonline.org/HOL/Page?handle=hein.journals/stjohn45&collection=journals&id=798&men_hide=false&men_tab=citnav
dc.subject Section 16(b) en_US
dc.subject Securities Exchange Act of 1934 en_US
dc.title Pragmatic Interpretation of Section 16(b) and the Need for Clarification en_US
dc.type Article en_US

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