‘Enforcement 40′ for 2017
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Fixing the ‘Brain Damage’ Caused by the I.P.O. Process – The New York Times
It is no secret that the public stock markets — despite the heights they’ve reached (and the credit that President Trump has taken for them) — are fundamentally broken. No chief executive wants to live in the glare of the public spotlight and deal with pesky investors who hold stocks in time frames of days […]
SEC Said to Scrutinize Hedge Funds’ Handling of Hot IPO Shares – Bloomberg
U.S. regulators are scrutinizing how hedge funds and other money managers divvy up the stock they get from hot initial public offerings due to concerns that highly lucrative trades are inappropriately enriching a select few, said three people familiar with the matter. Investment firms typically oversee multiple funds, and the Securities and Exchange Commission is asking how […]
Snapchat sued in federal court for allegedly lying ahead of IPO – Business Insider
A former employee who claims Snap Inc. lied to investors ahead of its initial public offering has escalated his lawsuit against the company and is seeking protection under whistleblower laws. via Snapchat sued in federal court for allegedly lying ahead of IPO – Business Insider
For IPOs, Two Law Firms Could be Better than One | The Recorder
When tech companies go public, they almost always hire a single law firm. But Square Inc.’s initial public offering suggests that could change. When the mobile payment company had its IPO late last year, general counsel Dana Wagner encouraged the company’s board to hire two marquee law firms: Wilson Sonsini Goodrich & Rosati and Wachtell […]
Overstock Wins SEC’s Nod To Upend How Companies Issue Shares – Bloomberg Business
Overstock.com Inc. has a plan to refashion how companies go public and dole out shares in secondary offerings. The online discounter moved a step closer when its strategy of using bitcoin-based technology won permission last week from the top U.S. securities regulator. via Overstock Wins SEC’s Nod To Upend How Companies Issue Shares – Bloomberg […]
IPO lite? SEC rule change gives small businesses a new fundraising option. – CSMonitor.com
On Wednesday, small businesses got a new way to raise millions of dollars in investments without going public. The U.S. Securities and Exchange Commission approved changes to a little-used regulation that will now let companies sell up to $50 million in securities to outside investors every year. via IPO lite? SEC rule change gives small businesses a […]
The Pre-IPO Company and “Failure to Launch” Claims | The D&O Diary
… The favorable IPO environment has encouraged even more companies move toward an IPO. However, for a company starting down the road toward an IPO, there are a number of risks. Among other things, pre-IPO companies face increased risks of liability and claims, particularly when the planed IPO fails to launch. via The Pre-IPO Company […]
Morgan Stanley Fined $5m for 83 IPOs Sold to Retail Customers — IB Times
The Financial Industry Regulatory Authority has fined Morgan Stanley’s wealth management unit $5m after it ruled that the Wall Street giant had supervisory failures related to the sale of shares from 83 IPOs to retail customers. via Morgan Stanley Fined $5m for 83 IPOs Sold to Retail Customers — IB Times
JPMorgan drops another China IPO amid ‘princeling’ probe: sources — Reuters
JPMorgan Chase & Co has stopped working on a Chinese firm’s initial public offering amid an investigation by U.S. authorities into its hiring practices in China, people with direct knowledge of the matter told Reuters on Tuesday. via JPMorgan drops another China IPO amid ‘princeling’ probe: sources — Reuters
Want a Piece of a Star Athlete? Now, You Really Can Buy One — DealBook
On Thursday, Fantex Holdings will announce the opening of a marketplace for investors to buy and sell interests in professional athletes. The start-up, backed by prominent executives from Silicon Valley, Wall Street and the sports world, plans to create stocks tied to the value and performance of an athlete’s brand. It will debut with an […]