California Corporate & Securities Law Blog

Latest from California Corporate & Securities Law Blog

The California Revised Uniform Limited Liability Company Act deals separately with the dissolution and cancellation of a California limited liability company and the cancellation of registration of a foreign limited liability company.   Yet, the Secretary of State has adopted a form of Certificate of Cancellation (Form LLC-4/7) that is intended to cover both

As an employee of Skillz Inc., Gautam Shah received awards of stock options.  Under the Skillz plan, Mr. Shah could exercise his vested options within three months of his termination of employment.  However, his options expired on the date of his employment termination if the termination was for cause.  When Skillz terminated Mr. Shah’s employment,

Last week, the U.S. Securities and Exchange Commission’s Director of Enforcement  celebrated a jury verdict in its insider trading case against Matthew Panuwat:

As we’ve said all along, there was nothing novel about this matter, and the jury agreed: this was insider trading, pure and simple. Defendant used highly confidential information about an impending announcement of

In California, some things are not what they seem.  Here, a bumblebee, a crab or snail can be a fish, but a goldfish may not be a fish.  See California Believes Clams, Crabs and Bumblebees Are Fish, Does It Now Believe That Joshua Trees Are A Type Of Asparagus?  Now, a bill is pending

Meredith Ervine recently wrote about reverse stock splits and Nasdaq listed issuers.  A reverse stock split is the “go to” solution for many listed issuers whose share prices fall below the minimum continued stock exchange listing requirements.  Unlisted companies may also engage in reverse splits, albeit for different reasons.
If there is no federal preemption,

In February, I noted that the Chamber of Commerce of the United States of America and several others filed suit in the Central District Court challenging two laws passed last year.  See As Foretold, California’s New Forced Speech Laws Are Being Challenged.  SB 253 (Wiener) compels disclosure of greenhouse gas emissions and SB 261