California Corporate & Securities Law

Francis Pileggi in his Delaware Corporate & Commercial Litigation Blog recently wrote that there is no per se duty on the part of a closely held company to disclose financial statements .  In The Ravenswood Investment Company, L.P. v. Winmill & Co....

The California Corporate Securities Law has long declared a number of manipulative devices to be unlawful.  See Cal. Corp. Code § 25400.  Now, a California legislator wants to add to the list.  As amended last week, SB 726 (Hueso) would insert a new...

While watching the NCAA tournament, I sat through several replays of this Allstate commercial featuring an anthropomorphized mayhem. The advertisement is one of a series featuring actor Dean Winters as the cause of all manner of "mayhem". Although...

Today, the California State Bar becomes subject to the Bagley-Keene Open Meeting Act (Cal. Gov't Gov't Code § 11120 et seq. ). The Bagley-Keene Act generally requires multimember state bodies to provide public notice of their meetings, prepare...

I often hear it said that Delaware has a modern corporate law.  In reading a recently filed proxy statement, for example, I came across the following assertion:

I often hear lawyers say something along the lines of "We need to find an exemption from the California Corporate Securities Law because one of the investors is a citizen of California". The citizenship or residency of a purchaser, however, doesn't...

Yesterday, the SEC announced that it had filed a complaint against a securities professional alleging that he had defrauded "two institutions he solicited to invest in a shell company he controlled whose name was deceptively similar to that of a...

In the closing years of the last millennium, many were concerned about the "Year 2000 Problem" (aka Y2K).  According to this Securities and Exchange Commission interpretive release:

Doug Cornelius at Compliance Building writes today about borrowers paying the legal fees of lender's counsel: