A person may be liable under Section 16(b)of the 1934 Act if that person was an officer or director at the time of:

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Section 16(b) of the Securities Exchange Act of 1934 targets the prevention of unlawful profit from short-swing trading by corporate insiders. It holds them liable if they were officers, directors, or beneficial owners of more than 10% of a class of the company's equity securities and engaged in a purchase and sale, or sale and purchase, of the company's securities within a six-month period. Thus, liability under Section 16(b) can be triggered if the person was an officer or director at the time of either the purchase or the sale.

A Person May Be Liable Under Section 16(b)of the 1934