P. v. Superior Court CA6
The People petition for a writ of mandate directing the trial court to vacate its order granting defendant Richard Lee’s Penal Code section 995 motion to dismiss 24 counts in an information alleging securities law violations, and to enter a new order denying the motion as to 12 of the counts. The People contend that the court erred because sufficient evidence was presented at the preliminary examination for probable cause to believe that defendant’s transactions with the victims involved securities within the meaning of Corporations Code section 25019, and that defendant committed two counts of fraudulent practices in connection with offering to sell securities (§ 25541) and 10 counts of offering to sell securities by means of false statements or omissions (§§ 25401, 25540, subd. (b)).
For reasons that we will explain, we conclude that the trial court erred by dismissing 12 of the counts involving securities law violations.
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