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    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