• SEC Proposes Amendments to Safe Harbor for Issuer Repurchases under Rule 10b-18
  • February 19, 2010 | Authors: Mark S. Bergman; David S. Huntington; Raphael M. Russo
  • Law Firm: Paul, Weiss, Rifkind, Wharton & Garrison LLP - New York Office
  • On January 26, 2010, the SEC published for comment proposed amendments to Rule 10b-18 under the U.S. Securities Exchange Act of 1934 (the “Exchange Act”). Rule 10b-18 provides issuers with a safe harbor from liability for manipulation under Section 9(a)(2) and Section 10(b) of the Exchange Act in connection with repurchases of shares of their common stock that meet the conditions (as to manner, timing, price and volume) of the Rule.