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Stock Rights | 12 Months Ended
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Dec. 31, 2011
Stock Rights Disclosure [Abstract] |
Stock Rights | 6. Stock Rights The Company has a stock rights plan. At December 31, 2011, there were 6,213,878 stock rights outstanding under the plan. Each right may be exercised to purchase one share of the Company's common stock at an exercise price of $80.00, subject to adjustment to prevent dilution. The rights generally become exercisable ten days after an individual or group acquires 10% or more of the Company's outstanding common stock, or after the commencement or announcement of an offer to acquire 10% or more of the Company's common stock. The stock rights, which do not have voting privileges, expire on July 23, 2018, and may be redeemed by the Company at a price of $0.01 per right at any time prior to their expiration at the discretion of the Board of Directors. In the event that the Company were acquired in a merger or other business combination transaction, provision shall be made so that each holder of a right shall have the right to receive, upon exercise of the right at its then current exercise price, that number of shares of common stock of the surviving company which at the time of such transaction would have a market value of two times the exercise price of the right.

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- Definition The entire disclosure for stock rights. + References No definition available. + Details
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