CorVel (CRVL) to Approve $20M Buyback Plan
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CorVel Corporation (Nasdaq: CRVL) announced that pursuant to Board of Directors approval, the Company entered into a pre-arranged stock trading plan on November 15, 2012 to spend up to $20 million to repurchase shares of its common stock commencing November 29, 2012 through February 25, 2013. The stock trading plan will be in accordance with guidelines specified under Rule 10b5-1 and Rule 10b-18 of the Securities and Exchange Act of 1934 and consistent with CorVel Corporation's policies regarding stock transactions. Rule 10b5-1 allows public companies to adopt written, pre-arranged stock trading plans when they do not have material, non-public information in their possession. All bids and the amounts purchased shall at all times be consistent and compliant with the pricing and volume limitations of Rule 10b-18.
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