Complying With Rule 144 For A Valid Resale

Law360, New York (November 7, 2013, 1:55 PM EST) -- Rule 144 (17 CFR 230.144) under the Securities Act of 1933, as amended (the “Securities Act”) has five key provisions, each of which, if applicable, must be fully satisfied to permit the seller to use the safe harbor.

Each section of the rule is fact-specific and should be carefully analyzed by the seller, the buyer and their respective counsel. Certain portions of the rule apply only to restricted securities or control securities and others apply only for affiliates. These distinctions are reviewed in detail below....
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