[Download] "Stormedia Inc. V. Superior Court Of Santa Clara County" by California Supreme Court # eBook PDF Kindle ePub Free

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eBook details

• Title: Stormedia Inc. V. Superior Court Of Santa Clara County
• Author : California Supreme Court
• Release Date : January 27, 1999
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 82 KB

Description

This matter, a companion to Diamond Multimedia Inc. v. Superior Court (1999) 19 Cal.4th 1036 (Diamond Multimedia), presents additional issues arising under section 25400 of the Corporate Securities Law of 1968 (Corp. Code, § 25000 et seq.). *fn1 In this action we are asked to decide if out-of-state purchasers of stock have a remedy under section 25500 for market manipulation in violation of section 25400, a question we answered in the affirmative in Diamond Multimedia, where we also rejected an argument - also made here - that permitting recovery under sections 25400 and 25500 on the basis of false or misleading forward-looking statements may be inconsistent with federal law. Petitioner StorMedia Incorporated (StorMedia) also argues here that the complaint does not allege that StorMedia was a person who sold, offered to sell, purchased or offered to purchase stock within the meaning of section 24500, subdivision (d) because it does not allege that StorMedia engaged in "market activity." Finally, we are asked to determine when civil liability for violation of section 25400 may be predicated on a theory of participation in acts of market manipulation by another person.

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