Muddy Waters is a firm engaged in financial analysis and short selling. After taking a short position in the stock of a publicly traded Chinese company, Muddy Waters published two negative reports referring to the company on a website. The Chinese...
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The California Corporate Securities Law of 1968 declares it unlawful for any person to offer or sell in this state any security in an issuer, nonissuer, or reorganization transaction unless the sale has been qualified or is exempt or otherwise not...
Eight years ago, the California legislature established a fund to compensate victims of corporate fraud. Cal. Stats. 2012, Ch. 564. The Secretary of State administers the fund, but has no authority to investigate or bring enforcement actions against...
Jesse Fried is the Dane Professor of Law at the Harvard Law School. He and Lucian Bebchuk wrote the book, Pay without Performance: the Unfulfilled Promise of Executive Compensation, a critical assessment of corporate governance and executive...
In 1997, the California legislature enacted the Citizen Complaint Act of 1997. Cal. Gov. Code §§ 8330-8332. The Act requires that state agencies make available on their Internet websites a form through which individuals can register complaints or...
Nevada has codified the business judgment rule as follows: "directors and officers, in deciding upon matters of business, are presumed to act in good faith, on an informed basis and with a view to the interests of the corporation." NRS 78.138(3)....
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