Client Alert
SEC Issues Emergency Temporary Order To Facilitate Issuer Repurchases
September 22, 2008
Late last week, the SEC issued an emergency order designed to facilitate issuer repurchases in an effort to promote market stability and issuer liquidity given the recent events affecting the financial markets. The SEC order temporarily relaxes the time of purchase and volume of purchase restrictions under Rule 10b-18, a safe harbor for repurchases of common stock by issuers and their affiliated purchasers.
Clic here to read our client alert summarizing the SEC’s order.
If you have any questions regarding the SEC order, please contact either the Womble Carlyle attorney with whom you usually work or one of our Corporate and Securities attorneys listed on the following webpage: WCSR Corporate & Securities Attorneys.
Womble Carlyle client alerts are intended to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances, nor should they be construed as advertisements for legal services.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice within this client alert is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in a client alert.
