Wednesday, February 29, 2012 3:14:15 PM
still trying to find if this applies:
Sec. 13 SECURITIES EXCHANGE ACT OF 1934 124
13d(6) The provisions of this subsection shall not apply to—
(A) any acquisition or offer to acquire securities made or
proposed to be made by means of a registration statement
under the Securities Act of 1933;
(B) any acquisition of the beneficial ownership of a security
which, together with all other acquisitions by the same person
of securities of the same class during the preceding twelve
months, does not exceed 2 per centum of that class;
(C) any acquisition of an equity security by the issuer of
such security;
(D) any acquisition or proposed acquisition of a security
which the Commission, by rules or regulations or by order,
shall exempt from the provisions of this subsection as not en
tered into for the purpose of, and not having the effect of,
changing or influencing the control of the issuer or otherwise
as not comprehended within the purposes of this subsection.
http://www.sec.gov/about/laws/sea34.pdf
never saw where the kid had or would acquire the voting power referred to below; a reference that, although possibly outdated, nonetheless indicates a potential [historic] exemption:
I. For the purpose of this regulation, the term "equity security" means any equity security of a class which is registered pursuant to section 12 of that Act, or any equity security of any insurance company which would have been required to be so registered except for the exemption contained in section 12(g) (2) (G) of the Act, or any equity security issued by a closed-end investment company registered under the Investment Company Act of 1940: Provided, such term shall not include securities of a class of non-voting securities.
http://taft.law.uc.edu/CCL/34ActRls/rule13d-1.html
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