In this post published yesterday, John Jenkins discussed a proposed Nasdaq rule regarding notification and disclosure of reverse stock splits. In light of John's post, I thought a brief refresher on California's treatment of reverse stock splits...
As has been discussed in previous posts, Part 5 of the Corporation Securities Law of 1968 establishes violations and Part 6 prescribes remedies. For example, Corporations Code Section 25401 in Part 5 provides, in part, that it is unlawful for any...
A new paper ostensibly connects the dots between failing to file a Form D, as required by Regulation D, and "patent trolls". A "patent troll" is a company, typically that does not produce any product or provide any service, that purchase patents for...
In June of last year, noted the introduction of a bill that would subject digital financial asset businesses to licensing in California. See California Fingers Digital Financial Asset Businesses For Licensing. In September, Governor Gavin Newsom...
The definition of a "real estate broker" under the California Real Estate Law encompasses much more than simply selling real estate. For example, Business & Professions Code Section 10131.3 defines a real estate broker as "a person who, for another...
A week ago, the United States Securities and Exchange Commission charged Kim Kardashian with touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. According to...
Section 25102.5 of the California Corporations Code exempts from the issuer qualification requirement of the Corporate Securities Law of 1968 a "transaction" that is the sale of: (i) a series of notes secured directly by an interest in the same real...
I started practicing law in the same year that California enacted a limited offering exemption for the offer and sale of securities in issuer transactions, Cal. Corp. Code § 25102(f). Before then, issuers had to rely on California's very burdensome...