Not quite four years ago, I wrote about whether directors are agents. The post was prompted by then Chancellor William B. Chandler III’s assertion...more
A recent paper by Adair Morse, Wei Wang, and Serena Wu, Executive Gatekeepers: Useful and Divertible Governance, tackles interesting questions about the the effectiveness of internal gatekeepers and the impact of equity...more
As a general matter, California Corporations Code Section 25401 declares it unlawful to make an untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the...more
The California legislature operates on a two-year schedule. Cal. Const. Art. IV, Sec.3(a). The legislature will convene for the second year of the current biennium next Monday (Jan. 6). J.R. 51(a). One immediate job for...more
Occasionally, a corporation may find itself with no directors and no management. Yet, the corporation does not cease to exist.
One might wonder what use can there be in a corporation deprived of head and limb. In...more
The California Secretary of State has given notice of the following changes to business entity filings...more