SEC to review “quiet period” IPO rule after Facebook mess

U.S. stock market regulator the Securities and Exchange Commission SEC is reviewing whether to relax rules governing what companies can say ahead of initial public offerings, the Wall Street Journal reported on Monday. The review comes after Facebook’s botched listing, which prompted more than a dozen shareholder lawsuits accusing Facebook and its underwriters of obscuring the companys weakened growth forecasts ahead of the listing. Facebook shares have almost halved from their $38 IPO price.

via SEC to review “quiet period” IPO rule after Facebook mess — WSJ