Food Service Corporation, and its officers, directors, and shareholders, buy and sell securities. Section 10(b) of the Securities Exchange Act of 1934 applies to the purchase or sale of a security

Question

Food Service Corporation, and its officers, directors, and shareholders, buy and sell securities. Section 10(b) of the Securities Exchange Act of 1934 applies to the purchase or sale of a security​

Quizplus · Accepted Answer

Section 10(b) of the Securities Exchange Act of 1934 applies to the purchase or sale of a security in almost any circumstances, regardless of whether it involves an investment company, short-swing profits, or insider trading (tipping and tippers). It prohibits fraudulent and manipulative acts and practices in connection with the purchase or sale of any security.

Food Service Corporation, and Its Officers, Directors, and Shareholders, Buy