Alerts10.25.24
Corporate America’s New California Challenge: Harsher Criminal Penalties
AB 2432 imposes stiff new financial penalties on companies convicted of state law felonies and misdemeanors in California
California Gov. Gavin Newsom recently signed Assembly Bill 2432 (AB 2432) into law, meaning that effective Jan. 1, 2025, companies convicted of crimes in the state will be subject to severe new financial penalties. This law, aimed at curbing corporate misconduct, introduces enhanced fines for companies convicted of felonies or misdemeanors and directs that a portion of the collected fines be used to shore up the California Crime Victims Fund.
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