California's anti-SLAPP statute provides that a special motion to strike may be filed against "[a] cause of action against a person arising from any act of that person in furtherance of the person’s right of petition or free speech under the United...
Court Leans On Minutes To Find That Non-Inaction Is Action
Posted on October 26, 2023
In This Case, "Primarily" Means A Small Fraction
Posted on October 24, 2023
In a state that classifies clams, crabs and bumblebees as "fish", the ruling in BioCorRx, Inc. v. VDM Biochemicals, Inc., Case No. G061535 (Oct. 23, 2023) should come as no surprise. The issue in the case was th "commercial speech" exception to...
Are Securities Law And Unfair Competition Law Claims Miscible?
Posted on October 20, 2023
Recently, I wrote about the ruling in Cress v. Nexo Financial LLC,2023 WL 6609352 (Oct. 10, 2023). Today's post covers a different issue addressed in that case - to what extent does California's securities law preclude claims under California's...
With California's Share Of Venture Capital Investment Falling, California Decides Its A Good Idea To "Bite The Hand That Feeds It"
Posted on October 19, 2023
According to this article by Carta, nearly 40.7% of all venture capital raised on its platform in the first quarter of this year went to companies headquartered in California. This sounds impressive, but it represents a precipitous decline from 2018...
California's Inept Attempt To Define Who Is A "Founding Team Member"
Posted on October 18, 2023
Last week, I reported that Governor Newsom had signed SB 54 (Skinner) even while acknowledging in his signing message that it contained "problematic provisions". SB 54 requires "venture capital companies", as defined, to disclose specific...
A Form D Is Not A Registration Statement And Why It Might Matter
Posted on October 17, 2023
Securities law practitioners know that Section 5(a) of the Securities Act of 1933 generally makes it unlawful to sell a security unless a registration statement is in effect, or the security or the transaction is exempt. Regulation D is a series of...
After Vetoing Earlier Bill, Governor Signs Digital Financial Asset Bill
Posted on October 16, 2023
A year ago, Governor Newsom vetoed a bill, AB 2269, which would have established a Digital Financial Assets Law. At the time, the Governor claimed that it was "premature to lock a licensing structure in statute". What a difference a 12 months make....
Governor Signs Bill Prohibiting Any Grocery Store Purchases Without Prior Written Notice To The Attorney General
Posted on October 13, 2023
Anyone planning to buy a loaf of bread or head of lettuce next year will need to plan ahead. Last weekend, Governor Newsom signed AB 853 into law. This bill provides that "[n]o person shall acquire, directly or indirectly, any . . . assets of a...
California Legislation Will Make It More Costly For Those Doing Business With Those Doing Business In California
Posted on October 12, 2023
Many law firms have been issuing alerts of late discussing the enactment of The Climate Corporate Data Accountability Act (SB 253). As enacted, this act will require, among other things, "reporting entities" to disclose Scope 1, 2 & 3 greenhouse gas...
