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To: MrGreenJeans who wrote (8415)9/8/1999 6:18:00 AM
From: Boca_PETE  Read Replies (1) | Respond to of 15132
 
Mr. GJ: RE: < Shorting Against the Box >

The post at the below link and the response to it referenced at the blottom of the post describes the consequenses of shorting against the box.

208.238.102.36

The new Law has made shorting against the box more difficult to do, noooot "illegal". There can be tax consequences if such a transaction is not ppropriately structured. Suggest you discuss the matter with your tax advisor if you plan to do this. Especially important is to avoid using securities that are substantially the same.

P



To: MrGreenJeans who wrote (8415)9/8/1999 8:06:00 AM
From: Logain Ablar  Read Replies (1) | Respond to of 15132
 
MGJ:

Your right shorting against the box is not illegal. The tax benefit of deferring gains though went out the window. I beleive the effective date was 1/1/98 (could have been a little earlier when the bill was agreed to in committee).

Tim


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