Akin Law Group - Untitled 5

The Quiet Period Pending Securities Registration Statement Effectiveness

There is a "quiet period" between the time that a company files a registration statement with the Securities and Exchange Commission for a new public securities offering and the time that the Commission declares the registration statement...

Restrictions on Short Sales of Securities

A short sale of a security is a sale of the security by an investor before the investor actually owns the security being sold. The investor profits if the value of the security declines between the time of the sale and the time of delivery of the...

WASTE OF CORPORATE ASSETS

WASTE OF CORPORATE ASSETS

Under Delaware corporation law and the corporation statutes in most states, directors owe the corporation the duties of care, loyalty, and good faith (and/or obedience). A...

Corporate Creditors

Generally, directors do not owe a fiduciary duty to a corporate creditor when that creditor has contracted exclusively with the corporation. However, a director may owe a fiduciary duty to a corporate creditor to protect the corporate...

Securities Law> Additional Offerings, Disclosure & the Securities Exchange Act of 1934> Tender Offers

Going Private Reporting Requirements for Public Companies

A company goes private by reducing the number of its stockholders to less than 300. The company thereby no longer is required to file public company...