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California Securities Law Questions & Answers
1 Answer | Asked in Securities Law for California on
Q: I want to file a securities class action lawsuit. Is the company in which I own stock required to give me the names of

other stockholders for the purposes of a class action suit?

Louis George Fazzi
Louis George Fazzi answered on Nov 11, 2017

You need to consult with a law firm which handles class actions.

1 Answer | Asked in Contracts, Business Law and Securities Law for California on
Q: (S-Corp ) Cal. We want to offer up to 5% in Preferred stock in return for performance. What doc would i need to draft?

California S Corp. I'm a co founder looking for a simple draft that give someone equity in return for performance based on milestones set forth by my terms of the deal. Total allowable equity would be 5% in the form of Preferred Stock. (non voting)

Sagar Parikh
Sagar Parikh answered on Oct 21, 2017

You can do an employment agreement or consulting agreement with this person, assuming that you've already issued shares.

A full consultation would be necessary to properly advise you.

1 Answer | Asked in Banking, Business Law, Consumer Law and Securities Law for California on
Q: California Securities Law Question: I am the sole shareholder of a British Virgin Island Corp that sells Crypto

The ceo, is a US citizen and resides in California; the BVI Corp will get registered in California as a foreign business; the business was incorporated in BVI and we DO NOT SELL Tokens to citizens from USA, CHINA or CANADA. Would this startup still be in violation of any USA securities law if we... Read more »

William John Light
William John Light answered on Oct 5, 2017

This is a complex question which is not suitable for a quick and free response on an anonymous internet forum. Hire a securities/tax attorney for a full analysis.

1 Answer | Asked in Family Law, Legal Malpractice and Securities Law for California on
Q: Is there a time limit on sueing family for forging my signature on stock and can I sue the lawyer that was in charge

Back in 1996 or 95 my grandfather passed away and left some stock to be divided between his 7 adult children my father passed away in 1974 that left me next of kin recently found out that my oldest Aunt forged my signature cashed out the stock and spent the money I never received a dime for the any... Read more »

William John Light
William John Light answered on Sep 18, 2017

You need to talk to a Probate Attorney to find out the timelines necessary to bring this type of claim. As I understand it, the claim would be on behalf of your father's estate against your aunt. There is a 3 year statute of limitations on fraud (Code of Civil Procedure section 338(d)), but it... Read more »

1 Answer | Asked in Securities Law and Landlord - Tenant for California on
Q: Hi,my tenant in Ohio terminated lease agreement, I want to return security deposit should I pay interest to him?

If yes how much is rate now? also in our lease agreement doesn't say anything about paying interest to security deposit.

thank you

Robert Philip Cogan
Robert Philip Cogan answered on Jul 24, 2017

Generally, security deposits are returned without interest. Deposits are placed to cover possible damage. Deposits are not an investment.

1 Answer | Asked in Immigration Law and Securities Law for California on
Q: Working with an employer on H1b (work) visa. Not allowed to work with other employers. How can I register as reg. rep?

My H1b work visa does not allow me to work for another employer except for my H1b sponsor employer. If I want to associate with a broker dealer as registered rep what are the options for me without triggering any legal issues on immigration side? Thanks

Roger Carl Algase
Roger Carl Algase answered on Jun 16, 2017

If the person you want to associate with offers you a job working for him on a salary basis, he can file a "concurrent" H-1B petition so you can work in both jobs at the same time. Or, if you want to leave your current job, he could file an H-1B transfer petition for you. But these strategies would... Read more »

1 Answer | Asked in Criminal Law, Consumer Law, Identity Theft and Securities Law for California on
Q: my question concerns embezzlement of a contract in which I was a joint tenet with my now deceased brother...

I just discovered this stock endowment in Feb 2017. I received a statement from IRS FOR THE TAXES OWED ON THIS SIX DIGIT AMOUNT.

I CALLED the stock company AND REQUESTED ALL DOCUMENTATION/transactions ON this account.. the checks were signed with my brothers signature... but not his... Read more »

Ali Shahrestani, Esq.
Ali Shahrestani, Esq. answered on May 22, 2017

You may be able to sue for the forgery and fraud, and you can report crimes to the police and the attorney general. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my... Read more »

1 Answer | Asked in Probate and Securities Law for California on
Q: i have somebodys stocks from 1955 they are passed away can i get money from them
Richard Samuel Price
Richard Samuel Price answered on Mar 30, 2017

Yes, if you are an heir to the estate. The correct probate procedure to use would depend on the type of property and the value of all the property in the estate. Consult with a probate attorney for a full consultation.

Q: What options would a fintech startup have to get around the securities license requirements?

Specifically in the p2P lending place, requiring we hold the series-XXX licenses and beyond. Would an LLC be able to suffice, as it is its own LLC? Or would we need to partner with someone who has the licenses?

Zaher Fallahi
Zaher Fallahi answered on Nov 27, 2016

This sounds a material issue and you should consult a local counsel, and not take an unnecessary risk of sustaining penalties. The information presented herein is for general purposes only. It is not intended to, and may not be construed as legal, tax or accounting advice. Neither is it intended... Read more »

1 Answer | Asked in Tax Law and Securities Law for California on
Q: Does a prohibited transaction related to a self-directed 401(k) plan result in distribution of the entire plan?
Zaher Fallahi
Zaher Fallahi answered on Nov 7, 2016

Yes, it does. You need to consult a specialist in the field. The information presented herein is for general purposes only. It is not intended to, and may not be construed as legal, tax or accounting advice. Neither is it intended as a solicitation. For specific advice, please consult an... Read more »

1 Answer | Asked in Estate Planning and Securities Law for California on
Q: No will: Mom died 10 years ago. Dad last year. Computershare holds stock in his name and in joint names. What do I do?

I printed out the holdings before Computershare closed me out of the account, even though I am executrix. There are plan shares, book entry and certificates (in a mixture of dad's name only, and jointly). I established an estate account but am unable to transfer the joint account holdings into that... Read more »

Richard Samuel Price
Richard Samuel Price answered on Apr 21, 2016

For two different decedents, you will need two different probate actions and you can be appointed as the personal representative of each estate.

1 Answer | Asked in Securities Law for California on
Q: Hi,I invested in a restaurant how often should they pay my initial investment back?

Hello,my initial is 25.000 usd,would it be yearly or?

Adam Studnicki
Adam Studnicki answered on Jul 14, 2015

It depends on the terms of the investment documents. Ask a local lawyer to review and advise.

1 Answer | Asked in Securities Law for California on
Q: whar is statute of limitations on sec certs?

I have a securities certificate that was never cashed in. Bought in 1966 and came due in 1976. Is it still possible to collect on this. Insurance Securities Trust Fund of San Francisco.

Mr. Robin Mashal
Mr. Robin Mashal answered on Mar 4, 2015

Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.

Were the certificates issued in your name? If so, you should contact the company that issued the certificates and see if they are holding any funds for you. There is also a chance...
Read more »

1 Answer | Asked in Securities Law for California on
Q: What is the statute of limitations to object to a transfer of stock in a Sub-Chapter S Corp in California?
Mr. Robin Mashal
Mr. Robin Mashal answered on Jan 6, 2015

Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.

Transfer of stock, per se, is not actionable. On what grounds you wish to object to the transfer? Be sure to consult your own attorney to protect your legal rights.

2 Answers | Asked in Securities Law for California on
Q: How do I find out if any lawsuits have been filed against Sonoma Ridge Capital LLC in Sonoma County CA
Ken Chan
Ken Chan answered on Apr 30, 2014

The Superior Court of California for the County of Sonoma is located at Hall of Justice, 600 Administration Drive, Room 107J, Santa Rosa, CA. The court has public access information terminals for researching cases.

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1 Answer | Asked in Securities Law for California on
Q: If the SEC gets an ex-parte on the investment company you have your money in, will they return your money?
Zaven Andranik Sargsian
Zaven Andranik Sargsian answered on Dec 10, 2013

I assume you mean that the Securities and Exchange Commission got an ex-parte (i.e. without both sides presenting) temporary restraining order (or preliminary injunction). This may also have been an ex-parte asset freeze, or, for that matter, several other requests. You should have a lawyer in... Read more »

1 Answer | Asked in Securities Law for California on
Q: I have a stock certificate for Superior Oil in 1980 issued to my Grandmother which I did not inherit. How do I found ou
Adam Savett
Adam Savett answered on Apr 15, 2013

In March 1984, Superior Oil was acquired by Mobil Corporation (now part of ExxonMobil). At that time, Superior was the nation's largest independent oil producer. You can contact Exxon Mobil Shareholder Services via their website -... Read more »

1 Answer | Asked in Securities Law for California on
Q: What happen to my stock in a company that went bankrupt in 1990?
Andy Chen
Andy Chen answered on Aug 8, 2012

It depends on the precise type of stock (e.g. preferred vs. common). Most people have common stock and they are usually wiped out (i.e. their stock becomes worthless) when the company declares bankruptcy. Sorry. If you have a considerable amount of money invested, it might be worth it to get a... Read more »

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