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TITLE	Supreme Court Decision 2010Da84420 Decided March 10, 2011 [Disgorgement of Short-Swing Profits] [full Text]
Summary
[1] The purpose of ""disgorgement of short-swing profits"" under Article 188 (2) of the former Securities and Exchange Act, and the date of determination for the issue whether a transaction is a short-swing transaction occurring within six months [2] Where the chief executive officer (""CEO"") of a KOSDAQ-listed corporation subject to the former Securities and Exchange Act established a memorandum of agreement to transfer the corporation's stock purchased from a third party, and then drew up a stock purchase and sale agreement approximately six months later, the case affirming the court below's holding that the transaction of such stocks should be deemed to have occurred on the date the purchase and sale agreement was drafted, as the memorandum of agreement appears to have been based on the premise that additional purchase and sale transaction in the future will certainly occur

TITLE

Supreme Court Decision 2010Da84420 Decided March 10, 2011 [Disgorgement of Short-Swing Profits] [full Text]

Summary

[1] The purpose of ""disgorgement of short-swing profits"" under Article 188 (2) of the former Securities and Exchange Act, and the date of determination for the issue whether a transaction is a short-swing transaction occurring within six months [2] Where the chief executive officer (""CEO"") of a KOSDAQ-listed corporation subject to the former Securities and Exchange Act established a memorandum of agreement to transfer the corporation's stock purchased from a third party, and then drew up a stock purchase and sale agreement approximately six months later, the case affirming the court below's holding that the transaction of such stocks should be deemed to have occurred on the date the purchase and sale agreement was drafted, as the memorandum of agreement appears to have been based on the premise that additional purchase and sale transaction in the future will certainly occur

Prev	Supreme Court en banc Decision 2006Do8839 Decided March 17, 2011【Violation of the Protection of Communications Secrets Act】
Next	Supreme Court Decision 2009Du23617, 23624 Decided March 10, 2011 [Revocation of Disposition for Decision upon Tax Investigation.Revocation of Disposition to Impose Composite Income Tax, Etc.]

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