All Points Traders, Inc. v. Barrington Associates

Opinion

ARABIAN, J.

Introduction

This appeal raises the issue of whether an investment banking firm which specializes in mergers and acquisitions must possess a real estate broker’s license when negotiating the sale of a business opportunity offered by a corporation seeking to transfer all of its stock to a prospective buyer. We hold that they must so possess.

Factual and Procedural Background

Petitioner and appellant All Points Traders, Inc., doing business as Sprink, Inc. (All Points), is a California corporation whose sole shareholders prior to the sale of its common stock were William F.…