Section 25501.5 – “A Riddle, Wrapped In A Mystery, Inside An Enigma”
Last December, I wrote this post about Corporations Code § 25501.5 that asked ”What do it mean?”. In general, the statute authorizes an action for rescission (or damages, if the security is no longer owned) by any person “who purchases a security from or sells a security to a broker-dealer that is required to be licensed and has not”. However, the statute makes little sense when the security was acquired in Read more...
