Insider Law and Legal Definition

An insider is defined as every person who is directly or indirectly the beneficial owner or more than 10 per centum of any class of any equity security which is registered pursuant to Section 12 of the Securities and Exchange Act or who is a director or an officer of the issuer of such security.” Klein v. Cent. Fla. Invs., Inc., 642 F. Supp. 2d 1374 (S.D. Fla. 2009)