California Corporations Code Section 25401 declares unlawful the sale or purchase of a security by means of a written or oral communication that includes an untrue statement of a material fact or omits to state a material fact necessary in order to...
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The Commissioner of Corporations may issue desist and refrain orders under the Corporate Securities Law of 1968. Cal. Corp. Code § 25532. If the respondent wishes to contest the order, s/he must do so by filing a request for hearing within 30 days...
California Corporations Code § 1600 grants a shareholder or group of shareholders holding specified percentages of a corporation's outstanding voting shares the absolute right to inspect and copy the corporation's "record of shareholders' names and...
The Corporate Securities Law of 1968 does not provide for a general "cooling off" period in which a purchaser of securities may cancel the transaction for any reason. However, the Department of Corporations in 2000 sponsored legislation, SB 1837...
As posted last month, the Commissioner of Corporations has issued an invitation for comment on possible changes to California's investment adviser rules. The deadline for submitting comments was set to expire this week. Just before year end,...
Last November, I submitted a Public Records Act request for all letters sent by the California Public Employees Retirement System to companies with respect to CalPERS' submission of a shareholder proposal pursuant to Securities and Exchange...
Last April, I wrote this brief piece for the Daily Journal regarding the emerging phenomenon of secondary trading in securities of issuers not subject to the reporting requirements of the Securities Exchange Act of 1934. Since that time, interest...
In People v. Collins, 68 Cal. 2d 319 (1968), the California Supreme Court wrote that it could "discern no inherent incompatibility between the disciplines of law and mathematics". While the Supreme Court may be correct about the relationship between...
Your team is ahead but makes a crucial error and loses the game. You may be tempted to vent your frustration on the cable box. Before you do, you should stop and consider Section 14400 of the California Corporations Code. That section allows a cable...
