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DBO Filing Procedures Set To Change Big Time

When I joined the Department of Corporations, it had no website and filings were made only in hard copy.  In the ensuing years, the Department (now known as the Department of Business Oversight) created a website, established system for filing notices of exemption under Section 25102(f) online, and provided online access to securities and franchise filings.  See California’s Big…

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Facebook Fairness Hearing Back In The News

Last August, the Department of Corporations approved the acquisition of Instagram, Inc. by Facebook, Inc. following a fairness hearing.  See DOC Calls It Fair.  According to this Los Angeles Times story by Salvador Rodriguez, Facebook officially closed the acquisition a few days later.  Although I would have expected that to have been the end of the matter, the…

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DOC Calls It Fair

Notes on the Facebook fairness hearing At the conclusion of a hearing held yesterday morning, the Department of Corporations approved the acquisition of Instagram, Inc. by Facebook, Inc.  Technically, the Department approved the issuance of a permit to offer and sell the securities.  The hearing was was held pursuant to Corporations Code Section 25142.  See A…

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11/11/11 Was A Record Day For Section 25102(f) Filings!

I’ve previously written about California’s on-line database for securities filings which is known as Cal-EASI (See “California’s Big EASI“).  Recently, I noticed what is very likely to be a record busting day for Section 25102(f) filings. On November 11, 2011, one issuer filed a total of 20 notices disclosing an astonishing aggregate transaction value of $1,686,187,868.50!  The issuer…

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California’s Big EASI

My friend, Bill Twomey, suggested a post describing how to get copies of securities and franchise filings made with the Department of Corporations.  It’s actually pretty easy.  The DOC maintains the California Electronic Access to Securities Information and Franchise Information (aka Cal-EASI) database.  With Cal-EASI, you can search for filings from July 25, 2002 by company name, federal…

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