The Securities and Exchange Commission has a mission to protect investors in California and around the country. On Feb. 13, the SEC took a step toward that goal by filing federal charges against a former high-ranking attorney with Apple Inc. The suit alleges the defendant used his inside knowledge to profit illegally.
In most states, the law clearly distinguishes between felonies and misdemeanors. California also does this—to some degree. For instance, rape and murder are always felonies, while prostitution and solicitation are always misdemeanors. However, there is a large gray area in the California penal code of crimes known as “wobblers.”