In December of last year, I wrote about how the Securities and Exchange Commission's Resource Extraction Rule might meet an untimely end. See There’s Still Time For Congress To Void The SEC’s Resource Extraction Rule (Dec. 14, 2016). The rule, Rule...
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Imagine how frustrated you would be if you sued someone and the defendant responded by demanding that you advance his legal expenses in defending your lawsuit. The plaintiff in Allergia, Inc. v. Bouboulis, 2017 U.S. Dist. LEXIS 7759 (S.D. Cal. Jan....
"Not since Clytemnestra and Agamemnon has there been such a mismatch."
I've devoted several posts to how California's General Corporation Law deals with fractional shares. Nevada's approach to fractional shares is somewhat different. For example, Nevada permits rounding up to a full share in all cases. NRS...
Can the President say "You're Fired!" to an SEC Commissioner?
In December last, the Department of Business Oversight published the 2016 Commissioner’s Report on the Offer or Sale of Securities by Permit under Corporations Code Section 25113. This report, which is required by California Corporations Code...
The last two posts have discussed what a corporation may do with fractions of shares. I entitled the first of these posts "Breaking Up Is Not Hard To Do – Fractions, Scrip And Scrippage" in partial reference to the song by Neil Sedaka and Howard...
Yesterday's post concerned various actions that a California corporation may pursue in lieu of issuing fractional shares. I left for today the subject of rounding. Section 407 of the Corporations Code expressly permits rounding to the nearest whole...
