Under the 1934 Act, any profit made by an insider is recoverable by the issuer if the profit resulted from the purchase and sale (or the sale and purchase) within less than a three-year period of any class of the issuer's equity securities.

Question

Quizplus · Accepted Answer

Under the 1934 Act, specifically Section 16(b) of the Securities Exchange Act of 1934, any profit made by an insider is recoverable by the issuer if the profit resulted from the purchase and sale (or sale and purchase) within a six-month period, not a three-year period.

Under the 1934 Act, Any Profit Made by an Insider