Are Board Retirement Age Policies Illegal?

In the Mentor Blog today, Lynn Jokela writes about mandatory board retirement age policies at S&P 500 companies.   Are such policies illegal in California?

Business Lawyering During The Covid-19 Murrain

A year ago, "all changed, changed utterly". In February 2020, I doubt very few, if anyone, would have anticipated that schools, government offices, houses of worship, museums, offices, theaters, and restaurants would be closed and that people would...

Corporations Code Saves Church Property

The AME Zion Church of Palo Alto, Inc. was founded in 1918 and has occupied its sanctuary for over a half century. In 2018, the Bishop of the Western Episcopal District of The African Method Episcopal Zion Church importuned the church's pastor into...

Want To Be Classified As "Diverse"?  According To ISS, Be A Member Of The Right Club

Earlier this week, I wrote about the classifications used by ISS in determining whether a director is "diverse". In short, I found ISS' scheme illogical and perverse. California's board diversity mandate uses different categories, but does not...

Ninth Circuit Holds Loss Causation Required For California Securities Claim

Section 25400(d) of the California Corporations Code declares it is unlawful for any person, directly or indirectly, in this state:

ISS' Arbitrary And Capricious Assessment Of Board Diversity

Last week, Liz Dunshee at TheCorporateCounsel.net noted that ISS has updated its policies and procedures to explain how it assesses racial and ethnic diversity. Currently, ISS considers board diversity in making voting recommendations for two of its...

SOS Wins International Award

Last week, the California Secretary of State's Business Programs Division received the 2021 Merit Award from the International Association of Commercial Administrators (IACA) for its new eForms Online application. According to its website, the IACA...

Court Finds No Cause Of Action Against Officer For Interfering With Shareholder Inspection

William Romanowski is a former NFL linebacker who later became the majority shareholder, director, and "public face" of Nutrition 53, Inc. When the company's second largest shareholder was allegedly denied inspection of the corporate records, it...

Don't Bank On Using "Bank" In A URL

About eight years ago, I wrote about Section 201(a) of the California Corporations Code which prohibits the Secretary of State from filing articles of incorporation setting forth a name in which “bank,” “ trust,” “trustee,” or related words appear,...