Section 16(b)of the Securities Exchange Act of 1934 imposes strict liability on statutory insiders who earn short-swing profits.

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Section 16(b)of the Securities Exchange Act of 1934 imposes strict liability on statutory insiders who earn short-swing profits.In other words,violators cannot use lack of intent or lack of knowledge as a defense.Statutory insiders are considered to be certain large stockholders,executive officers,and directors.

Section 16(b)of the Securities Exchange Act of 1934 Imposes Strict