Is Privity Required Or Not Required Under Section 25500?
California Corporations Code Section 25400 lists a variety of acts that are considered to manipulate the price of securities. Section 25400 was modeled on Section 9(a) – (e) of the Securities Exchange Act of 1934. Although Section 25400 declares these acts to be “unlawful”, the statute does not technically impose liability. The legislature left that duty to Corporations Code Section 25500 which Read more...
