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CALIFORNIA CORPORATE & SECURITIES LAW

Are California Statutes Authorizing Desist And Refrain Orders Facially Unconstitutional?

In December 2008, the Commissioner of Corporations issued a desist and refrain order based on alleged violations of the Corporate Securities Law and the Finance Lenders’ Law. ¬†Nearly seven years later, the respondents challenged the order by filing a complaint in the U.S. District Court. ¬†The complaint included four causes of action: (1) violation of…

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