California Corporate & Securities Law

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...

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...

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...

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...

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...

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....

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...

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...

This February post noted the introduction of SB 261 which aimed at imposing climate-related financial risk reporting. In the ensuing months, the bill was amended seven times and garnered numerous supporters and opponents. On Saturday, Governor...