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term:
Ex-Rights
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ex-rights adv or adj
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: without rights NOTE: The purchaser of stock traded ex-rights does not acquire the right to purchase new securities at a discount prior to their public issuance because such right was retained by the seller.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.