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    Condominiums And The California Corporate Securities Law

    Some four years ago, I wrote about the Ninth Circuit Court of Appeals' holding in Salameh v. Tarsadia Hotel, 726 F.3d 1124 (9th Cir. 2013).  For those readers who don't remember the post or the case, the Court of Appeals held that the plaintiffs had...

    California Securities Laws, investment contract, Harold Marsh, real estate development, Robert H. Volk, condominium, howey, salameh v. Tarsadia, Silver Hills

    Court Finds Promissory Notes Are Not Securities

    Yesterday's post concerned the Court of Appeal's decision in People v. Black, 2017 Cal. App. LEXIS 130 (Cal. App. 6th Dist. Feb. 16, 2017).  The case involved the criminal prosecution of an individual for making false statements in connection with...

    California Securities Laws, Marine Bank v. Weaver, promissory notes, Section 25019, Court of Appeal, howey, People v. Black, Silver Hills

    Silver Hills Doesn't Mute Howey

    Anyone who has studied securities regulation since 1946 should be familiar with the U.S. Supreme Court's definition of a "security" as enunciated by Justice Frank Murphy in S.E.C. v. Howey Co., 328 U.S. 293 (1946).  That test asks "whether the...

    California Securities Laws, risk capital, Securities Litigation, howey, People v. Black, Silver Hills

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