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CALIFORNIA CORPORATE & SECURITIES LAW

CalPERS To Consider Support For Corporate Political Spending Disclosure Mandate

Next week, the California Public Employees Retirement System will consider a staff recommendation “to update the legislative and policy guidelines to include support for Securities and Exchange Commission (SEC) rulemaking on disclosure of the use of corporate resources for charitable and political activities.”  Under the California Constitution (Art. XVI, § 17(b)), the members of CalPERS’…

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Judge Puts Off Decision On Whether Receiver’s CalPERS Benefits Are Unconstitutional

Did CalPERS Make A Gift Of Public Funds? On January 23, 2008, the federal court appointed J. Clark Kelso as a receiver for California’s prison health care system.   In 2011, a taxpayer filed a petition for writ of mandamus challenging Mr. Kelso’s membership in the California Public Employees’ Retirement System (CalPERS).  According to the taxpayer, Mr. Kelso is not…

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