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facebook didnt do anything illegal... until a company goes public it is not required to report shit. the underwriters were not even breaking any laws by telling just a selective group of investors about the forecast revision. before the stock goes public there is a roadshow, and this by definition is selectively choosing certain investors to give information to.
where laws were probably broken is if the clients of the underwriters that learned about the revisions adjusted their orders for facebook stock on day 1. that is almost certainly insider trading... but facebook did nothing wrong legally (ethically is a different story)
at least thats how i understand the situation to be
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