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CALIFORNIA CORPORATE & SECURITIES LAW

Revealed! The Numbers The Attorney General Didn’t Want You To See

Since 2003, the California Attorney General has been required to maintain “a whistleblower hotline to receive calls from persons who have information regarding possible violations of state or federal statutes, rules, or regulations, or violations of fiduciary responsibility by a corporation or limited liability company to its shareholders, investors, or employees.”  Cal. Lab. Code § 1102.7(a).…

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Are Misstatements In A Form 10-K Actionable By The California Attorney General?

Last week, the California Attorney General Kamala D. Harris announced that she had filed a complaint for civil penalties, permanent injunction and other equitable relief against Corinthian Colleges and three of its school subsidiaries.  Broadly speaking, the Attorney General is alleging that Corinthian Colleges has violated California consumer protection and securities laws.  Among other things, the complaint points…

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