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Article 157
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In the event that any director, supervisor, managerial officer, or shareholder holding more than ten percent of the shares of a stock issuing company sells listed stock of the company within six months after acquiring it, or repurchases listed stock of the company within six months after selling it, the company shall claim for the disgorgement of any profit therefrom.<br/>If the board of directors or the supervisors of the company fail to exercise the right of claim for disgorgement under the preceding paragraph on behalf of the company, its shareholders may request the directors or supervisors to exercise the right of claim within thirty days. If the directors or supervisors do not exercise that right within that deadline, the requesting shareholders may exercise the right of claim under the preceding paragraph on behalf of the company.<br/>If the directors or supervisors fail to exercise a claim under paragraph 1, they shall be jointly and severally liable to the company for compensation for any resultant damage suffered by the company.<br/>The right of claim under paragraph 1 shall be extinguished if not exercised within two years from the date on which the profit is obtained.<br/>The provisions of paragraph 3 of Article 22-2 hereof shall apply mutatis mutandis to paragraph 1 of this Article.<br/>This Article shall apply mutatis mutandis to other securities with equity characteristics issued by a company.
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