Perspective
Jun. 15, 2010
No Way, Amending an Agreement Can Violate State Securities Laws?
When drafting contract amendments, neglecting the California Corporate Securities Law may lead to unpleasant surprises, cautions Keith Bishop of Allen Matkins.
In drafting contract amendments, some lawyers may neglect to consider whether the amendment is subject to the California Corporate Securities Law (CSL). However, there is no such thing as benign neglect of the CSL. Failure to take the CSL into account can result in rescission of the amendment, an award of damages, and even civil or criminal penalties. Thus, lawyers who undertake to draft a contract amendment should consider whether th...
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