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CALIFORNIA CORPORATE & SECURITIES LAW

Californians Like To Whistle While They Work

California Ranked No. 1! The staff at the Securities and Exchange Commission recently released the 2012 Annual Report on the Dodd-Frank Whistleblower Program.  It turns out that California leads the other states in terms of the number of tips received.   According to the report, California accounted for 17.4% of all tips received.  The next highest ranking state,…

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Why Section 25100(o) Certification Still Matters (Part 3); Big Whistleblower Award By OSHA

In two earlier posts, I wrote about why the Commissioner’s certification of a national securities exchange pursuant to Corporations Code § 25100(o) still matters.  Today, I discuss yet another reason why certification continues to be relevant.  This time the issue involves dissenters’ rights under the California General Corporation Law. Dissenters’ Rights Chapter 13 of the California Corporations…

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SEC’s Proposed Whistleblower Rules Will Eviscerate Compliance Programs

Last month, I wrote about California’s whistleblower hotline in this post.  In early November, the Securities and Exchange Commission issued proposed rules for implementing the whistleblower provisions of Section 21F of the Securities Exchange Act of 1934, which was added by the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Section 21F requires, subject to various conditions, that…

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“And What They Will Inform. . .That Will The King Severely Prosecute”

Last month, I asked the California Attorney General’s office for information concerning utilization of the whistleblower hotline mandated by Labor Code § 1102.7.  Below are the data provided to me: Year Number of Calls 2004 0 (partial records for five months) 2005 62 (partial records for seven months) 2006 167 2007 519 2008 661 2009…

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Dropping a Dime in California

In this recent post, I wrote about California’s employee whistleblower legislation.  California Labor Code § 1102.7 requires the California Attorney General 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…

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