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California Bill Amended To Impose $100K Penalty For Failure To Report Timely Board Gender To Secretary Of State

I have written several posts about a bill, SB 826, now pending in the California legislature that would impose fines on publicly held corporations that fail to meet prescribed gender quotas.  See California Bill Would Mandate Gender Quotas For...

Legislation

Why I Disagree With A Semi-Annual Reporting Mandate (And It Probably Isn't The Reason That You Expect)

Last Friday, President Trump tweeted that he has asked the Securities and Exchange Commission to study stopping quarterly reporting and going to a six-month reporting system.  A few years back, I proposed a more free market approach:

"Why not...

federal securities law

Is Section 17200 A Case of "Ex Nihilo Nonnihil Fit"?

Last week, I devoted several posts to the California Supreme Court's decision in  De La Torre v. Cashcall Inc., 2018 Cal. LEXIS 5749.  In that opinion, the Court was responding to a question certified to it by the Ninth Circuit Court of Appeals.  

unfair competition law

California Court Applies California Law To Officer Of Delaware Corporation

Not quite three years ago, I penned the following lines:

"My guess is that most attorneys would say that the duty of an officer to the corporation are governed by the law of the state of incorporation under the "internal affairs doctrine".  As...

Choice of Law/Conflict of Law

Today The Suspense Will Be Over (Mostly)

Followers of California legislation will note that many bills are now in either the "suspense file" of the Appropriations Committees of the Senate and the Assembly.  These two committees have jurisdiction over fiscal bills.  A bill with a...

Legislation

Supreme Court Shows No Deference To The DBO

For U.S. Supreme Court followers, a hot topic is whether the Court will continue to apply "Chevron deference".  Under Chevron U.S.A., Inc. v. Natural Resources Defense Council, 467 U.S. 837 (1984), a court will uphold an agency's interpretation of...

Finance Lenders Law, Administrative Procedure

California Supreme Court Empowers The DBO And The Courts To Regulate Interest Rates

Section 22303 of the California Financial Code establishes the maximum interest rates applicable to loans less than $2,500.  The preceding section incorporates by reference the general Civil Code provision about contract unconscionability, Section...

Finance Lenders Law

The End Of The 2017-2018 Session Is Nigh!

The California legislature meets annually but but the legislative session is biennial.  Nevada's legislature in contrast meets every other year.  See Happy New Biennium!  The second year of California's current session comes to a close at the end of...

Legislation

Nevada Supreme Court Addresses Nationwide Non-Compete

Given California's hostility to non-compete agreements, it is easy to lose sight of the fact that other states don't have the same attitude.  In neighboring Nevada, the courts will look to whether the restraint on competition in reasonable.  A...

Non competition agreements

Fairness Hearings Are Not Just For Merger Transactions

Section 3(a)(10) of the Securities Act provides an exemption from Securities Act registration for offers and sales of securities in specified exchange transactions.  There are several conditions to the exemption, including the requirement that a...

Corporate Securities Law

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30172DBAB0084D3A8F39D7AF0A8E79BC.ashxKeith Paul Bishop
Partner at Allen Matkins
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