Case Study: For those of you unfamiliar with the F.I.R.A.C method of coming to conclusions regarding case studies of art truth, first the person all important(p) state the occurrence, then the issues, the virtuousness and finally show how that law applies and conclude on behalf of any side. Fact: Jim, Joe and dog each own one-third of the shares of Seizen, Inc., a close held companionship. Each as employed by the potty as an officer and director. The corporation was in the beginning involved in the received landed estate development barter although occasionally it took reward of clientele opportunities in areas unrelated to unfeigned estate development. curtsey, in comity of retirement, requested Jim and Joe to adopt, on behalf of the corporation, a liberal dividend policy and a plan for the corporation to grease ones palms his shares of melodic line over a period of 10 eld, at a price to be mutually agreed upon. Although Bob had devoted m any years of service to the corporation, Jim and Joe refused to crystalise any dividend payments and also refused to corrupt any of Bobs shares of stock in the corporation.
Jim and Joes decision was based upon what they considered to be in the best care of the corporation and also on the fact that Bob had previously hit the booksn personal service of a real estate development investment luck that the corporation had been advised close but was unable to take advantage of because of financial difficulty. Issue: Was Bob in violation of tower 10b and 16b? Rule: 10b- Anybody who is an withinr must not spate on the basis of inside or non public info to anyone else who is not possession to. 16b-Prohibits anyone who owns 10% or more of a corporation from trading stock of that corporation within sixer months of a transaction. (West 433) Application:... If you want to read a full essay, fiat it on our website:
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