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CALIFORNIA CORPORATE & SECURITIES LAW

Court Finds Promissory Notes Are Not Securities

Yesterday’s post concerned the Court of Appeal’s decision in People v. Black, 2017 Cal. App. LEXIS 130 (Cal. App. 6th Dist. Feb. 16, 2017).  The case involved the criminal prosecution of an individual for making false statements in connection with the offer and sale of a security in violation of Corporations Code Section 25401.  The trial…

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DOC Employees to Receive Full Pay – For the Time Being

On July 6, 2010, I reported on a recent Court of Appeal decision that supported Governor Schwarzenegger’s attempt to reduce state employees’ salaries to the federal minimum wage.  The Court of Appeal’s holding did not require the Controller to reduce salaries.  Thus, the Governor went back to Superior Court.  As reported in this Sacramento Bee…

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