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Simple English definitions for legal terms

all-holders rule

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A quick definition of all-holders rule:

The all-holders rule is a regulation that applies to securities. It has two parts. The first part says that if a company wants to offer shares to some of its shareholders, it must offer them to all of them. The second part says that if someone wants to buy a company, they must offer to buy shares from all of the company's shareholders, not just some of them. This rule helps ensure fairness and equal treatment for all shareholders.

A more thorough explanation:

The all-holders rule is a regulation set by the Securities and Exchange Commission (SEC) that has two main applications:

  1. It prohibits a company from offering shares to only some of the holders of a particular class of shares. In other words, if a company wants to issue new shares, it must offer them to all shareholders of that class, not just a select few.
  2. It requires a tender offeror (a company or individual attempting to acquire a controlling interest in another company) to make their offer to all shareholders of the target company, not just a select few.

For example, let's say Company A has two classes of shares: Class A and Class B. If Company A wants to issue new shares of Class B, it must offer those shares to all current holders of Class B shares, not just a select few. Similarly, if Company B wants to acquire a controlling interest in Company C, it must make its offer to all shareholders of Company C, not just a select few.

The all-holders rule is designed to promote fairness and transparency in the securities market by ensuring that all shareholders have equal access to information and opportunities.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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