Securities Law Questions & Answers by State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Securities Law Questions & Answers
Q: Can you explain what a "triggering event" is? I keep seeing the term.
T. J. Jesky's answer
A triggering event refers to an occurrence that, once breached or met, it causes another event to take place. Triggering events are written into contracts to prevent or ensure that if something happens the next event will happen.
For example, you want to buy a newspaper at a news stand. When you pay the vendor the price of the newspaper, the triggering event takes place, he hands the newspaper over to you.
If you don't pay your rent, the triggering event takes place, the...
A triggering event refers to an occurrence that, once breached or met, it causes another event to take place. Triggering events are written into contracts to prevent or ensure that if something happens the next event will happen.
For example, you want to buy a newspaper at a news stand. When you pay the vendor the price of the newspaper, the triggering event takes place, he hands the newspaper over to you.
If you don't pay your rent, the triggering event takes place, the...
Q: When does someone need to file an amended 8K? I'm a shareholder and want to know if they followed the law.
T. J. Jesky's answer
This is a good question, and somewhat difficult to give you a solid answer. Here is why. A Company is required to file a Form 8-K when a "material event" takes place. It is management's call as to what they consider material. This is also based on the size the Company. For a small company, material event can be almost any important event. For a Fortune 500 Company, the same event may not be material based on their size. It is just another day of conducting ordinary business.
As...
This is a good question, and somewhat difficult to give you a solid answer. Here is why. A Company is required to file a Form 8-K when a "material event" takes place. It is management's call as to what they consider material. This is also based on the size the Company. For a small company, material event can be almost any important event. For a Fortune 500 Company, the same event may not be material based on their size. It is just another day of conducting ordinary business.
As...
Q: I'm a little unclear on employee stock ownership
T. J. Jesky's answer
You are correct. If some one wants to give you stock, you are under no obligation to accept it. The same is true for an inheritance. You may not want to accept a property, if it includes a huge mortgage or a number of tax liens.
There must be more to this story than your comment above. There are few reasons not to accept stock; however, if the stock comes with "a hook," feel free to reject the offer.
You are correct. If some one wants to give you stock, you are under no obligation to accept it. The same is true for an inheritance. You may not want to accept a property, if it includes a huge mortgage or a number of tax liens.
There must be more to this story than your comment above. There are few reasons not to accept stock; however, if the stock comes with "a hook," feel free to reject the offer.
Q: Options were about to vest but the company went into bankruptcy, what do I do?
Steve A. Buchwalter's answer
If your options are in the money, you may want to exercise them. If a stockbroker recommended the options without warning you about the companies financial condition, you may be able to sue. You'll need to talk to an attorney.
www.securitieslaw-attorney.com
If your options are in the money, you may want to exercise them. If a stockbroker recommended the options without warning you about the companies financial condition, you may be able to sue. You'll need to talk to an attorney.
www.securitieslaw-attorney.com
Q: Found 2 original stock certificates in grandfather’s bank box . Co. is not publically traded. Son now runs the business.
David A Onstott's answer
Securities law is very complex and fact specific. The easiest way to figure out the current status of the shares is to simply contact the company and ask. Without seeing the stock papers, knowing the company's position on the stock, and reviewing the current and historical operating agreements, it is impossible to know exactly whether or not the company must honor them. However, if the value of the shares is potentially substantial, you should contact an experienced securities lawyer to...
Securities law is very complex and fact specific. The easiest way to figure out the current status of the shares is to simply contact the company and ask. Without seeing the stock papers, knowing the company's position on the stock, and reviewing the current and historical operating agreements, it is impossible to know exactly whether or not the company must honor them. However, if the value of the shares is potentially substantial, you should contact an experienced securities lawyer to...
Q: We'd like to issue shares in our company - do all the officers need to sign off?
T. J. Jesky's answer
When a Company issues shares, the "corporate formally" to do so, is a Board Resolution. In other words, it is the Board of Directors through a Board Resolution that authorizes the issuance of shares from the Corporate Treasury. It is not the officers but the Board of Directors who have this power. Generally, shares are issued because: 1) someone provided services to the Company; 2) someone signed a subscription agreement and wants to purchase shares in the Company, the funds to the...
When a Company issues shares, the "corporate formally" to do so, is a Board Resolution. In other words, it is the Board of Directors through a Board Resolution that authorizes the issuance of shares from the Corporate Treasury. It is not the officers but the Board of Directors who have this power. Generally, shares are issued because: 1) someone provided services to the Company; 2) someone signed a subscription agreement and wants to purchase shares in the Company, the funds to the...
Q: Is it shoplifting if someone conceals a item and then pays for it at the counter
1 Answer
| Asked
in
Consumer Law, Criminal Law and Securities Law
for
Missouri
on
Answered on Sep 9, 2018
Answered on Sep 9, 2018
T. J. Jesky's answer
When you friend first concealed the item in her purse, with "intent to deprive" the store of their merchandise, she committed a theft crime, specifically, larceny. Even though she changed her mind, and returned the item, the crime was committed, due to her intent.
As far as the altercation, the store exceeded their authority. A store can only hold the suspect for a reasonable time, while they call and wait for the police. They cannot use excessive force and beat her up. She should...
When you friend first concealed the item in her purse, with "intent to deprive" the store of their merchandise, she committed a theft crime, specifically, larceny. Even though she changed her mind, and returned the item, the crime was committed, due to her intent.
As far as the altercation, the store exceeded their authority. A store can only hold the suspect for a reasonable time, while they call and wait for the police. They cannot use excessive force and beat her up. She should...
Q: How do I donate stock to a charity?
T. J. Jesky's answer
Before you donate any stock to a charity, you should check with the charity first to determine if they will accept the stock.
Once you determine, the charity will accept the stock, you need to transfer the stock into their name.
The transfer depends if you have the stock in certificate form, or if the stock is deposited with broker.
Certificate form:
On the back of the stock certificate, indicate the name of charity you plan to transfer the stock, on the back...
Before you donate any stock to a charity, you should check with the charity first to determine if they will accept the stock.
Once you determine, the charity will accept the stock, you need to transfer the stock into their name.
The transfer depends if you have the stock in certificate form, or if the stock is deposited with broker.
Certificate form:
On the back of the stock certificate, indicate the name of charity you plan to transfer the stock, on the back...
Q: I am a security officer here in the State of Florida what color lights can be displayed on my vehicle?
Terrence H Thorgaard's answer
Florida Statute 316.2397 (3) provides, in pertinent part, that
"... Vehicles owned or leased by private security agencies may show or display green and amber lights, with either color being no greater than 50 percent of the lights displayed, while the security personnel are engaged in security duties on private or public property. …"
Florida Statute 316.2397 (3) provides, in pertinent part, that
"... Vehicles owned or leased by private security agencies may show or display green and amber lights, with either color being no greater than 50 percent of the lights displayed, while the security personnel are engaged in security duties on private or public property. …"
Q: Why does a suit that was filed in state court go to Federal court? On a slip and fall, if your witness is the asst
Jedidiah "Jed" McKeehan's answer
If you have sued for over $75,000.00, and the entity you have sued has a home office location in another state, that combination of factors is the most likely reason that the case was removed to federal court.
If you have sued for over $75,000.00, and the entity you have sued has a home office location in another state, that combination of factors is the most likely reason that the case was removed to federal court.
Q: I was recently adjudicated as guilty after pleading nolo contendre in a Topeka Kansas District court case involving
Mark Oakley's answer
You need to have an experienced federal criminal defense attorney admitted to practice before the US Court of Appeals for the 10th Circuit. The attorney will do all the legal research. Most criminal defense counsel who practice in the federal courts will either handle appeals or will know others to refer you to.
You need to have an experienced federal criminal defense attorney admitted to practice before the US Court of Appeals for the 10th Circuit. The attorney will do all the legal research. Most criminal defense counsel who practice in the federal courts will either handle appeals or will know others to refer you to.
Q: What's the very first thing I should do if I have believe I have a securities claim?
Steve A. Buchwalter's answer
Gather all your documents and put them is a safe place. Call an attorney to go over your case. Any attorney you talk to may ask you to write up a narrative (your story) as to what happened. It may be a good idea to start on that.
Gather all your documents and put them is a safe place. Call an attorney to go over your case. Any attorney you talk to may ask you to write up a narrative (your story) as to what happened. It may be a good idea to start on that.
Q: Hello I have a negative balance due to a margin call with an offshore stockbroker, am I liable for the negative balance?
Camille Brooks Ibrahim's answer
Depending on the specific account guidelines and contractually binding terms will determine if a breach of contract is pursuable. If it was not contractually then you should be ok
Depending on the specific account guidelines and contractually binding terms will determine if a breach of contract is pursuable. If it was not contractually then you should be ok
Q: At a restaurant where there was an altercation between a group of friends and security guard giving a parking ticket
Juan Ooink's answer
Your friend needs to sit down with a Civil Attorney to find out if there is something here and they should do so right away.
Your friend needs to sit down with a Civil Attorney to find out if there is something here and they should do so right away.
Q: If I forward money from a Singapore entity to a US Client, would the Singapore entity need any licenses?
1 Answer
| Asked
in
Banking, Business Law, International Law and Securities Law
on
Answered on Jun 9, 2018
Answered on Jun 9, 2018
Richard Sternberg's answer
From whom? For what? It is not illegal and no licenses are required by US law to transfer money to a US entity or person, but there may be issues in Singapore or issues involving other aspects of the transaction. If I’m doubt, run the transaction past a lawyer in a consult. Often, consults can be purchased as independent services.
From whom? For what? It is not illegal and no licenses are required by US law to transfer money to a US entity or person, but there may be issues in Singapore or issues involving other aspects of the transaction. If I’m doubt, run the transaction past a lawyer in a consult. Often, consults can be purchased as independent services.
Q: Does US law specify a minimum gross margin on "related party" transactions?
Eric Steven Day's answer
when you sell a piece of property to a related party cheaper, the IRS may make the property ordinary again to the u.s. company/individual. Also, you cannot sell the property to a related property and claim a loss on the sale.
when you sell a piece of property to a related party cheaper, the IRS may make the property ordinary again to the u.s. company/individual. Also, you cannot sell the property to a related property and claim a loss on the sale.
Q: False report of a crime. Unlawful. Conduct.
1 Answer
| Asked
in
Civil Rights, Communications Law, Constitutional Law and Securities Law
for
Georgia
on
Answered on May 29, 2018
Answered on May 29, 2018
Q: 18 year old who has a bank account under my name only.Is it invasion of privacy if your parents look into your checkbook
Leonard R. Boyer's answer
They are your parents, and you live in their home, and they support you, so the answer is NO.
If you want to keep your checkbook private, then buy a locking strong box and have your mail sent to a P.O. Box.
They are your parents, and you live in their home, and they support you, so the answer is NO.
If you want to keep your checkbook private, then buy a locking strong box and have your mail sent to a P.O. Box.
Q: How can I lift unjustifed 10years USA ban.
2 Answers
| Asked
in
Immigration Law, Native American Law, Securities Law and Social Security
on
Answered on May 3, 2018
Answered on May 3, 2018
Hector E. Quiroga's answer
You can try contacting the DHS Traveler Redress Inquiry Program at the following email address: https://www.dhs.gov/dhs-trip
You can try contacting the DHS Traveler Redress Inquiry Program at the following email address: https://www.dhs.gov/dhs-trip
Q: Here it is. At 3 am Saturday morning my vehicle was towed. I didn't have sticker on was charged 280$ how can I fight it?
1 Answer
| Asked
in
Appeals / Appellate Law, Civil Rights, Securities Law and Small Claims
for
New Hampshire
on
Answered on Apr 30, 2018
Answered on Apr 30, 2018
Joseph Kelly Levasseur's answer
This is not a civil rights issue. If it wasn't registered then the owner of the property has rights. You should have notified them about your car being on the property without an inspection sticker. If you can prove they knew it was your car and you were there legally you may have an argument, but some of these lots are patrolled by tow companies that look out for these types of cars and remove them.
This is not a civil rights issue. If it wasn't registered then the owner of the property has rights. You should have notified them about your car being on the property without an inspection sticker. If you can prove they knew it was your car and you were there legally you may have an argument, but some of these lots are patrolled by tow companies that look out for these types of cars and remove them.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
