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CALIFORNIA CORPORATE & SECURITIES LAW

California Is The Largest Issuer In The United States

On September 21, 2010, the Securities and Exchange Commission held its first in a series of hearings concerning the municipal securities markets.   California Treasurer Bill Lockyer submitted these written remarks.  In these remarks, the Treasurer mentions that last year California was “the largest issuer in the nation including corporate issuers” (with certain footnoted exceptions). In…

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Attorney General Suffers Setback in Placement Agent Suit

Yesterday, Bankruptcy Court Judge John Peterson issued his written decision regarding whether the State of California should be granted relief from the bankruptcy automatic stay in order to pursue a civil enforcement action against Alfred R. Villalobos and his affiliated companies.  Mr. Villalobos is a former member of the Board of Administration of the California Public…

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CA AG Files Criminal Complaint Against Sellers of Movie Loans

Last week, the California Attorney General filed this 89 count criminal complaint against three individuals.  The complaint alleges that these individuals offered and sold securities without qualification under the Corporate Securities Law of 1968.  An interesting aspect of this cases is that it involved the alleged offer and sale of securities in the form of loans.  According…

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