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CALIFORNIA CORPORATE & SECURITIES LAW

Bill Illustrates Ills Besetting Corporate Fraud Fund

In 2002, the Legislature enacted AB 55 creating the victims of corporate fraud fund.  Since the fund was created, it has collected about $15 million and nearly 800 claims have been submitted.  In a devastating article published last fall by the Sacramento Bee, Dan Morain reported that only 10 people had been paid with a total…

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