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Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains news on...more
Over three and a half years since the death of George Floyd spurred some members of the venture capital community to enact promises to increase their investments in diverse entrepreneurs, California has enacted legislation in...more
At different times over the course of the last thirty days or so, I have seen reports describing various plans to increase income taxes and/or wealth taxes on the “rich” that have either been endorsed or proposed by the likes...more
In Crest v. Padilla, No. 20STCV37513 (Cal. Super. Apr. 1, 2022), the Superior Court of California for the County of Los Angeles (Green, J.) declared that Section 301.4 of the California Corporations Code is unconstitutional...more
On September 30, 2020, Governor Newsom signed Assembly Bill (AB) 979, which required publicly held corporations headquartered in California to diversify their boards of directors with directors from “underrepresented...more
On April 1, 2022, the Superior Court of California, County of Los Angeles granted the plaintiffs’ motion for summary judgment in a case challenging the legality of AB 979 under the California Constitution...more
Last year, California Governor Gavin Newsom signed AB 979 (2020 Cal. Stats. ch. 316) into law. No later than the end of this year, "publicly held corporations" with their principal executive offices in California are...more
The California Legislature passed and Governor Newsom signed several new laws covering topics ranging from COVID-19 to leaves of absence to data reporting. Most of these laws take effect January 1, so now is a good time for...more
Building upon California’s prior efforts to increase diversity in the workplace, Governor Newsom has signed into law Assembly Bill 979 and Senate Bill 973. AB 979 requires greater diversity on corporate boards of directors...more
On September 30, 2020, California Governor Gavin Newsom signed a bill into law requiring publicly held corporations to further diversify their boards of directors. He also signed a bill requiring that corporations and limited...more
The Situation: California's governor recently signed into effect a new law requiring public corporations whose principal executive offices are located in California to have a certain minimum number of individuals from...more
In 2020, California Governor Gavin Newsom signed several laws impacting California employers. The new laws — some of which were signed into law just weeks ago — address several topics including sick leave, worker...more
On September 30, 2020, Governor Gavin Newsom signed into law Senate Bill (SB) 979, a measure that will require publicly held corporations in California to achieve diversity on their boards of directors by January 2023. ...more
California Assembly Bill 929 (the “Diversity Bill”), which was passed by the California State Legislature on August 30, 2020, and signed into law by California Governor Gavin Newsom on September 30, 2020, requires domestic...more
California AB 979 took effect Wednesday, September 30, and requires public companies domiciled or headquartered in California to have at least one director from an underrepresented community by the end of 2021. Such companies...more
California Governor Gavin Newsom on September 30 signed into law Assembly Bill No. 979, which requires publicly held companies headquartered in California to have a minimum number of directors from “underrepresented...more
On September 30, 2020, California Governor Gavin Newsom signed legislation mandating representation of underrepresented communities on the boards of publicly held corporations based in California. This new law, known as...more
Social unrest currently roiling the U.S. body politic has brought systemic racial inequity and injustice into sharp focus. Why, after decades of public statements and corporate commitments to enhancing racial diversity has so...more
California has enacted the nation’s first diversity mandate for public company boards. As we previously reported, the new law (AB 979) builds upon California’s first- in-the nation statutory gender mandate for public company...more
In the midst of national conversations surrounding racial equity and social justice, Governor Gavin Newsom signed AB 979 into law on September 30, 2020. AB 979 is a first-of-its-kind legislation requiring that no later than...more
Yesterday, Governor Gavin Newsom signed AB 979 into law. The new law will apply to publicly held corporations having their principal executive offices in California to have specified numbers of directors from...more
On September 30, 2020, Governor Newsom signed Assembly Bill (“AB”) 979, which requires publicly held corporations headquartered in California to diversify their boards of directors with directors from “underrepresented...more
Pending legislation would require public companies in California to have at least one director from an underrepresented community by the end of 2021 and would mark the second instance of California seeking to force the...more
AB 979 would require publicly held corporations with their principal executive offices in California to have minimum number of directors from underrepresented communities. If Governor Newsom signs the bill into law,...more
On September 18, 2019, California Governor Gavin Newsom signed AB 5 into law effective January 1, 2020. This legislation is intended to make it more likely that a worker will be classified as an employee. It effects this...more