...before they get decapitated by angry Americans.
I figured illegal word of mouth activity happened at every IPO, but until today I had no idea it was actually legal!
"But working in Facebook's favor - and potentially against regulators - are various exemptions for private companies under other sets of rules, particularly one known as Regulation Fair Disclosure. The rule, adopted in 2000, restricts companies from providing information to certain investors or analysts without informing the wider public. But it provides broad exceptions for companies that aren't yet public, including a sizable loophole covering "oral communication made in connection with the registered securities offering." Facebook and its underwriters may have shared their updated analysis with one another orally.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/05/23/MN3K1OMFH0.DTL&ao=2#ixzz1voog8bu9"
If we are going to let these people cheat legally, can we at least please start taxing these fuckers?
Blood boiling. I can't believe my retarded ass just found this out.
I figured illegal word of mouth activity happened at every IPO, but until today I had no idea it was actually legal!
"But working in Facebook's favor - and potentially against regulators - are various exemptions for private companies under other sets of rules, particularly one known as Regulation Fair Disclosure. The rule, adopted in 2000, restricts companies from providing information to certain investors or analysts without informing the wider public. But it provides broad exceptions for companies that aren't yet public, including a sizable loophole covering "oral communication made in connection with the registered securities offering." Facebook and its underwriters may have shared their updated analysis with one another orally.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/05/23/MN3K1OMFH0.DTL&ao=2#ixzz1voog8bu9"
If we are going to let these people cheat legally, can we at least please start taxing these fuckers?
Blood boiling. I can't believe my retarded ass just found this out.