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Officer (an officer of Corporation) sells common stock in Corporation and then buys preferred stock 10 days later. Corporation sues under Section 16(b) of the
Officer (an officer of Corporation) sells common stock in Corporation and then buys preferred stock 10 days later. Corporation sues under Section 16(b) of the Securities Exchange Act of 1934 to recover Officer's profits from the sale. Corporation will: Question 4 options: A) prevail, because the purchase and sale occurred within 6 months of each other. B) prevail, because there is no need to prove that Officer unfairly used inside information due to the timing of the transactions. C) not prevail, because the sale and purchase must be of the same class of stock to fall within the coverage of Section 16(b). D) both a and b
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