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CALIFORNIA CORPORATE & SECURITIES LAW

Should Tweener Corporations Include This Provision In Their Equity Compensation Plans?

I have previously commented on the phenomenon of what I call the “tweener” corporation.  See Will The Rise Of Tweener Corporations Increase Focus On California’s Annual Report Statute?  These are corporations that are not quite private and not quite publicly traded.  One of the advantages of not being subject to the reporting requirements of the Securities…

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California’s Blue Sky Law May Cast A Shadow On Some Foreign Issuer Equity Plans

Foreign issuers whose securities are not listed on either the NASDAQ or New York stock exchange may overlook the need to comply with California’s Corporate Securities Law of 1968 when making equity plan awards to their California employees.  Without the benefit of preemption pursuant to Section 18 of the Securities Act of 1933, these issuers…

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The NSMIA Didn’t Lay A Preemptive Finger On These Transactions

Last week, I was in Washington D.C. where I served as the moderator of a panel discussion on current securities law issues for small business.  As part of my presentation, I discussed the following list of securities transactions that have not been preempted by the National Securities Markets Improvement Act of 1996 (aka the NSMIA): Offers…

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