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J. Rooney is Chairman of Rooney, Pace Group, Inc. and has decided to acquire stock in Pantry Pride. Rooney is able to purchase 7 percent

J. Rooney is Chairman of Rooney, Pace Group, Inc. and has decided to acquire stock in Pantry Pride. Rooney is able to purchase 7 percent of the stock in October 2016. Is Rooney subject to any SEC requirements?

Why yes or why no? discuss it!

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