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CALIFORNIA CORPORATE & SECURITIES LAW

Federal Judge Rules Out Private Cause Of Action Under California Control Person Statute

Some persons may be deemed to violate the Corporate Securities Law of 1968 even though they did not directly violate the law.  Corporations Code Section 25403(a) provides that a person who with knowledge directly or indirectly controls and induces any person to violate any provision of the CSL or any rule or order thereunder is deemed to be…

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Federal Court Rules Boilermakers Didn’t Decide All Issues And Orders Company To File A Form 8-K

At first glance, the plaintiff’s position in Bushansky v. Armacost, 2014 U.S. Dist. LEXIS 88072 (N.D. Cal. June 25, 2014) seems a bit peculiar.  The plaintiff had filed suit challenging Chevron Corporation’s adoption of an exclusive forum bylaw.  However, U.S. District Court Judge William H. Alsup stayed the action pending resolution of a pending proceeding…

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