Why they are allowed not to disclose the "institutional" buyer’s name?
something about the "1934 Exchange Act". does any one knows what is that about?
Any one try and guess why and who its?
Sentiment: Strong Buy
Discovery Group filed a 13D last February which means they have a controlling interest. If they purchased any shares in the secondary, they they would have to report within 10 days.
Hopefully there are some 5% "bagholders" of Velti out there that bought more shares. If so, they have to disclose..probably some time within the month. Institutional owners who manage long positions of more than $100 mil in total assetsl, have to file quarterly on their holdings.
Rule as to Use of Form 13F. Institutional investment managers (“Managers”) must use Form 13F for reports to the Commission required by Section 13(f) of the Securities Exchange Act of 1934 [15 U.S.C. 78m(f)] (“Exchange Act”) and rule 13f-1 [17 CFR 240.13f-1] thereunder. Rule 13f-1(a) provides that every Manager which exercises investment discretion with respect to accounts holding Section 13(f) securities, as defined in rule 13f-1(c), having an aggregate fair market value on the last trading day of any month of any calendar year of at least $100,000,000 shall file a report on Form 13F with the Commission within 45 days after the last day of such calendar year and within 45 days after the last day of each of the first three calendar quarters of the subsequent calendar year.