Skadden on Revisiting Share Repurchases in Volatile Times
Reynolds Holding
APRIL 11, 2022
Repurchases that are made as part of a plan or scheme to evade the federal securities laws, even if made in technical compliance with the rule, are not protected. In order to satisfy its delivery obligation, the bank counterparty will borrow such shares from stock lenders in the market. Why should a company repurchase its shares?
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