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Securities Act of 1933 - Section 2(a)(3)May 24, 2007Response of the Office of Chief Counsel
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Re: |
Verint Systems Inc. |
Based on the facts presented, the Division will not recommend enforcement action to the Commission if Verint Systems Inc. makes the described awards of restricted stock units and deferred stock to its employees without registration under the Securities Act of 1933 in reliance on your opinion as counsel that such awards are not sales within the meaning of Securities Act Section 2(a)(3).
This position is based on the representations made to the Division in your letter. Any different facts or conditions might require the Division to reach a different conclusion. This response expresses the Division's position on enforcement action only and does not express a legal position on the question presented.
Sincerely,
Anne Krauskopf
Senior Special Counsel
The Incoming Letter is in Acrobat format.
http://www.sec.gov/divisions/corpfin/cf-noaction/2007/verint052407-2a3.htm
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