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Biotech / Medical : WebMD Health Corp

WBMD 66.48

0.0%

Sep 18 5:00 PM EST

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To: Bosco who wrote (112)	10/12/2000 2:27:42 PM
From: Raymond Clutts	Read Replies (1) of 326

Like your own recollection mine is fuzzy on the specifics of the disclosure rules but from what little I remember of the SEC disclosure rules that I learned in Corporations and Partnerships (over 15 years and at least one lifetime ago), insiders are obliged to disclose all purchases and sales with advance notice. I also seem to recall that the duration of that disclosure obligation essentially left corporate insiders with two annual sixty windows during which they could buy or sell with adequate advance notice. As for the SEC ruling that obligates disclosure of the size of one's holdings in public corporations, I seem to recall that when acquiring in excess of 5% one must disclose but when selling below 5% there is no such obligation. In other words you have to tell the public when you're buying an amount in excess of 5% which may indicate that you're amassing a takeover but not when you're fleeing a position like a scalded dog. I HAVE PROBABLY JUST MATERIALLY MISSTATED THE SEC'S DISCLOSURE RULES AND WOULD WELCOME CLARIFICATION OF THESE RULES FROM ANYONE WITH ANY KNOWLEDGE OF THESE DUTIES.

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