Sec. 36b-46. (Formerly Sec. 36-462). Fraudulent, deceptive and manipulative acts or practices prohibited.
Sec. 36b-46. (Formerly Sec. 36-462). Fraudulent, deceptive and manipulative
acts or practices prohibited. No offeror or target company or any affiliate of an offeror
or target company or any broker or dealer acting on behalf of an offeror or target company
shall engage in any fraudulent, deceptive or manipulative acts or practices in connection
with a tender offer. Fraudulent, deceptive and manipulative acts or practices include,
but are not limited to, the following:
(1) Publication or use in connection with the offer of any false statement of a material
fact or omitting to state a material fact necessary to make the statements made by him
not misleading, but not including the mailing by a target company to its security holders
of solicitation materials published by an offeror.
(2) Acquisition by or through a broker or dealer acting on behalf of an offeror of
any equity security of the target company in connection with a tender offer unless the
broker or dealer files with the commissioner such information as he requires and to the
extent permitted by the commissioner, or unless the broker or dealer did not know that
the person for whom it acted was an offeror or that the acquisition was in connection
with a tender offer.
(P.A. 76-362, S. 7, 14; P.A. 92-12, S. 93.)
History: Sec. 36-347g transferred to Sec. 36-462 in 1979; P.A. 92-12 redesignated Subdivs; Sec. 36-462 transferred to
Sec. 36b-46 in 1995.