Related Terms • Black Knight • Flip In • Flip Out • Gray Knight • Golden Parachute • Macaroni Defense • Pac-Man • Parking • People Pill • Sandbag • Scorched-Earth Policy • Shark Repellent • Suicide Pill  • Tender Offer • White Knight  • William's Act    See Also • SEC

Definition: A Parking Violation is an illegal tactic used to get around the Williams Act, which requires disclosure when a person or entities' holdings reach 5% of a company.  In order for a raider to hide his ownership in the target company, he/she will have a third-party hold or finance the stock [thus, no one realizes just how much they own].

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