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Biotech / Medical : TELK -- Telik, Inc.
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To: rkrw who wrote (806)12/28/2006 10:07:53 AM
From: Biomaven  Read Replies (1) of 887
 
The short-swing trading prohibitions that apply to 10% shareholders apply only to profitable transactions - when the Insider profits from the "purchase and sale" of securities within a six month period or the "sale and purchase" of securities within a six month period.

So Black-Bear would be hard-pressed to fall under these provisions.

I came out of this whole mess essentially flat (small profit) from an overly-complex hedge. I was long shares, long some short-term low-strike puts and short some LEAPs.

Peter
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