Civil Litigation
Dec. 17, 2015
Despite recent efforts, UCL still does not cover securities transactions
The UCL, a staple of civil litigation in California, gives a plaintiff who has lost money or property as a result of a prohibited business practice a right to sue for restitution and obtain an injunction, among other remedies. By Peter B. Morrison and Kevin J. Minnick
Peter B. Morrison
Partner
Skadden, Arps, Slate, Meagher & Flom LLP
300 S Grand Ave
Los Angeles , CA 90071
Phone: (213) 687-5304
Email: peter.morrison@skadden.com
New York Univ SOL; New York NY
California's Unfair Competition Law, aka the UCL or Section 17200, broadly prohibits "any unlawful, unfair or fraudulent business act or practice and unfair, deceptive, untrue or misleading advertising." Although the UCL is often considered a robust consumer protection statute, it has never covered securities transactions, as the California Court of Appeal first held in Bowen v. Ziasun Technologies Inc...
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