California Corporate & Securities Law

As noted in prior posts, the Secretary of State has filed a motion to dismiss a federal court challenge to California's director quota laws (SB 826 and AB 979). The Secretary's brief includes several remarkable and troubling assertions. For example,...

As noted in yesterday's post, Secretary of State Shirley N. Weber is asking U.S. District Court Judge R. Gary Klausner to dismiss a challenge to California's board quota statutes. In her motion to dismiss, the Secretary of State advances the...

In July, a Texas non-profit membership association filed a complaint in the United States District Court for the Central District (Western Division) of California, Alliance For Fair Board Recruitment v. Weber, Case No. 2:21-cv-05644-RGK-RAO (July...

It seems that no one's identity is immune from theft, including financial regulators. Last week, the California Department of Financial Protection & Innovation announced that it received a complaint from a California resident regarding an email sent...

And these are the names of California companies who came out of California . . . .  The California Policy Center, which describes itself as "an educational non-profit working for the prosperity of all Californians by eliminating public-sector...

As 2021 begins drawing to close, the Department of Financial Protection & Innovation has released its 2020 Annual Report of Finance Lenders, Brokers, and PACE Administrators Licensed Under the California Financing Law. According to the report, the...

An "other constituency statute" permit, but do not require, boards of directors to consider non-shareholder interests (such as the interests of employees, the environment, et cetera) when making decisions. California and Delaware are among a handful...

Last month, Governor Newsom signed AB 1177, the California Public Banking Option Act. The law's title is more impressive than accurate, for it does not actually create a public bank. Rather, the law requires the Treasurer to convene a "Blue Ribbon...

California had been one of 16 states that did not require licensing of debt collectors.  That changed last year with the enactment of the Debt Collection Licensing Act.  2020 Cal. Stats. ch. 163 (SB 908). The DCLA will effect at the beginning of next...