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The SEC's probe of Facebook's (FB +0.1%) IPO has found no evidence thus far the company withheld...

  • Friday, October 19, 2012, 3:55 PM ET
    The SEC's probe of Facebook's (FB +0.1%) IPO has found no evidence thus far the company withheld important info from investors, a source tells Bloomberg. The agency is also looking at other issues, such as whether investors were given misleading info from brokers, and whether i-bankers made selective disclosures to analysts. The report comes as Facebook and its underwriters contend with an avalanche of lawsuits. Shares are closing near breakeven on a rough day for tech.
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This news story has 10 comments:

  •  
    The IPO was hyped daily by the media
    19 Oct 2012, 04:09 PM Reply Like
  •  
    SEC is the blind, toothless, impotent "watch-dog" of Wall Street and Goldman Sachs.

    SEC has been, and always will be the lapdog of Wall Street and Goldman Sachs.

    All the "insider-trading" prosecutions of late are sacrificial lambs to appease the public and a media PR for the Obama administration.

    Once Romney gets elected, SEC will be dismantled and all the business-destroying regulations will be repealed.

    GOP in 2013!!
    19 Oct 2012, 04:26 PM Reply Like
  •  
    Their IPO smelled for the beginning.
    19 Oct 2012, 04:35 PM Reply Like
  •  
    It should be very clear that Facebook and Morgan Stanley criminally opened with an IPO price that was intended to rip off investors. Every insider was selling when the stock opened at $42 and higher immediately. The underwriters Morgan Stanley etc., were selling their stock as soon as the market opened. There was never any upside. The IPO price was rigged as apparent from a steady tanking of the stock since it's IPO debut. Isn't there a crime for falsely setting an IPO price with insider intent to sell immediately when the stock opens.
    19 Oct 2012, 04:47 PM Reply Like
  •  
    There is nothing criminal about setting an absurdly high IPO price when there is enough demand to support it. Investors made out like bandits, speculators got burned.
    20 Oct 2012, 10:41 PM Reply Like
  •  
    I am an investor.
    19 Oct 2012, 04:48 PM Reply Like
  •  
    SEC personnel earning their upcoming gig as "compliance officers" for the Facebook and the underwriting banks. Must have spent the time negotiating pay and perks as they eye the revolving door.
    19 Oct 2012, 04:49 PM Reply Like
  •  
    They are to busy working on John Corzine..lol....
    19 Oct 2012, 05:42 PM Reply Like
  •  
    Whatever - the SEC are a bunch of part-time accountants. The fact os that FB is going down because its un ethical, its got a ton of lawsuits on its case, and its saturated its base without monetizing any mobile apps. Its too late. Oh, and did I mention that billions of shares are hitting the market in November ?
    If I was FB employee I would be calling in sick Nov14 and hitting the sell button, repeatedly.
    21 Oct 2012, 11:54 PM Reply Like
  •  
    fb or apple http://seekingalpha.co...
    22 Oct 2012, 03:01 AM Reply Like
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