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...
Silver Hills Doesn't Mute Howey
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What Do You Know? Bill Proposes To Eliminate Scienter
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Corporations Code Section 25401 is California's basic securities antifraud statute:
