Derivative actions can be somewhat confusing. Although the entity is essentially the plaintiff, it is named as a defendant. Initially, one might question why must the corporation be named as a party? I can think of at least two reasons. First, the...
Recent Posts
John Jenkins recently took note of this letter from the SEC's Office of Investor Advocate commenting on a proposal by the Financial Accounting Standards Board to amend the definition of "materiality" in Concepts Statement No. 8, Conceptual Framework...
Last Friday, I wrote about one of the docketed appeals in Wynn Resorts, Limited v. Eight Jud. Dist. Ct., 41 Nev. Adv. Op. 52 (2017). Today's post concerns the other docketed appeal in that case. This appeal addressed whether disclosure of an...
Nevada, like California, has codified the attorney-client privilege:
The title of yesterday's post may have been a bit recondite for some readers as I never directly mentioned negotiating permits in the post. Therefore, today's post will back up a bit and fill in some of the missing pieces.
It is sometimes forgotten that the California Corporate Securities Law of 1968 makes it unlawful to either offer or sell a security in California in an issuer transaction unless that the sale has been qualified or exempt from or not subject to...
Modern English is partially the product of an unnatural grafting of French onto Old English. It is for this reason that we often find two words for nearly the same thing. Thus, we call the animal a cow but the food beef. The barnyard term is Old...
Is your California securities broker-dealer a licensed personal property broker? Does it need to have such a license to make loans to its customers? Anyone reading California Corporations Code Section 25217(c) would conclude that it must:
I expect that little or no thought is given to the possible application of California's Corporate Securities Law of 1968 when a corporation incorporates a subsidiary under the laws of a foreign country. However, the issuance of shares to a corporate...
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