Publication
Corporate Communicator – Spring 2013
Spring 2013
Dear clients and friends,
In this issue of the Corporate Communicator, our headline article discusses recent developments pertaining to Rule 10b5-1 trading plans. The Securities and Exchange Commission (SEC) adopted the rules allowing for pre-arranged trading plans some years ago and such plans can be a very useful tool to allow insiders of public companies to diversify their holdings without the common concern of trading while in possession of material inside information. Like many things, the actions of a few bad actors have brought a new round of controversy about how these plans are adopted and executed and we believe more stringent rules and disclosure requirements are on the horizon.
We are also including a short article about California’s new limited liability company act that will go into effect in 2014. As the article points out, the new act unfortunately creates new ambiguities and leaves in place prior provisions that many considered unfavorable.
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
