• Regulation of Stock Repurchase Programs Under the Federal Securities Laws
  • December 16, 2003
  • Law Firm: Dorsey & Whitney LLP - Minneapolis Office
  • Many public companies employ stock repurchase programs to increase shareholder value at times when their outstanding securities are perceived to be underpriced or to minimize the dilution caused by the use of stock in acquisitions or employee plans. Issuers must design repurchase programs to comply with a number of potentially applicable provisions contained in the federal securities laws. The purpose of this memorandum is to outline these provisions very briefly and to serve as a basis for additional discussions with legal counsel.