75-72-121 - Penalties.
§ 75-72-121. Penalties.
(1) Any person who makes a tender offer involving a subject company without filing a disclosure statement required under Section 75-72-105 may be imprisoned for a period not to exceed one (1) year, or fined an amount not to exceed five thousand dollars ($5,000.00) per day, while the unlawful tender offer is in effect, or both.
(2) Any person who, in connection with a tender offer, knowingly makes or causes to be made to the secretary of state any representation of a material fact which he knows to be false, or knowingly withholds or causes to be withheld from the secretary of state any information the disclosure of which he knows is necessary, in light of the circumstances, to make not misleading other representations of material facts made or caused to be made by him to the secretary of state, may be imprisoned for a period of not less than one (1) nor more than five (5) years, or fined an amount not to exceed twenty-five thousand dollars ($25,000.00) or both.
(3) Any person who, in connection with a tender offer, knowingly publishes or sends or gives, or causes to be published, or sends or gives any representation of a material fact which he knows to be false, or knowingly omits to publish information which he knows is necessary, in light of the circumstances, to make not misleading other representations of material facts published, or sends or gives or causes to be published, or sends or gives by him, may be imprisoned for a period of not less than one (1) nor more than five (5) years, or fined an amount not to exceed twenty-five thousand dollars ($25,000.00), or both; provided, however, that this subsection shall not apply to the mailing by a subject company to the record or beneficial owners of its equity securities of solicitation material published and furnished to the subject company for transmittal to its security holders by the bidder.
(4) Any person who knowingly violates any provision of Sections 75-72-101 through 75-72-121 for which a specific criminal penalty is not otherwise provided may be imprisoned for a period not to exceed one (1) year, or fined an amount not to exceed five thousand dollars ($5,000.00), or both.
(5) Nothing herein limits the power of the state to punish any person for conduct which constitutes a crime under any other statute.
Sources: Laws, 1980, ch. 418, § 11, eff from and after July 1, 1980.