In making a public offering or in maintaining an orderly trading market, a company not only has to assure compliance with federal regulations but with state law as well. Each state has its own securities laws regulating the offering and sale of securities, known as blue sky laws. These laws are administered by a regulatory agency for the state and typically provide investors with a private causes of action for securities fraud. These blue sky laws are typically modeled after the federal law, but every state has its differences and they all interpret the law differently. For this reason it is particularly important to pay attention to the nuances of state securities law. We have years of experience helping clients comply with both state and federal requirements in making their offerings.