Holding Period . Before you may sell any restr
Post# of 8054
Posted On: 11/14/2013 3:49:19 AM
- Holding Period . Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is a ?reporting company? in that it is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months. If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for. The holding period only applies to restricted securities. Because securities acquired in the public market are not restricted, there is no holding period for an affiliate who purchases securities of the issuer in the marketplace. But the resale of an affiliate's shares as control securities is subject to the other conditions of the rule.
Additional securities purchased from the issuer do not affect the holding period of previously purchased securities of the same class.
Since CWRN was not an SEC reporting co Geo would've had to hold its restricted stock for 1 year before selling into the market
CWRN implies or alleges Geo sold or may have sold when pps was up to .0265-which would've been jan or feb of 2011 bascially-and CWRN says in its complaint it does not have full info on this because Geo has allegedly refused to supply any info on this
when did Geo acquire its restricted shares in 2010?
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