People v. Simon

Opinion

BAXTER, J.

This case arises under the Corporate Securities Law of 1968. (Corp. Code, § 25000 et seq.)1 The principal issue is whether sections 25401 and 25540, which criminalize the sale or purchase of securities by means of oral or written communications which either contain false or misleading statements or omit material facts, create a “strict liability” offense. We also consider appellant’s claims that he was prejudiced by the trial court’s error in failing to instruct on the magnitude of a defendant’s burden of proof when offering an “exemption” defense to a charge of violating…