BROWSE BY TOPIC
- Bad Brokers
- Compliance Concepts
- Investor Protection
- Investments - Unsuitable
- Investments - Strategies
- Investments - Private
- Features/Scandals
- Companies
- Technology/Internet
- Rules & Regulations
- Crimes
- Investments
- Bad Advisors
- Boiler Rooms
- Hirings/Transitions
- Terminations/Cost Cutting
- Regulators
- Wall Street News
- General News
- Donald Trump & Co.
- Lawsuits/Arbitrations
- Regulatory Sanctions
- Big Banks
- People
TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
ABOUT FINANCIALISH
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
SUBSCRIBE FOR
NEWSLETTERS & ALERTS
Faceook: Mum's the Word
February 6, 2012
[ by Melanie Gretchen ]
Facebook's Mark Zuckerberg told underwriters in his company's multi-billion dollar IPO to stop their current behavior, which has displeased Facebook officials. That would include leaking information to the press, sniping at other firms, talking up the stock offering to clients via e-mails and phone calls.
Zuckerberg specifically referred to leaks about Facebook's 2/1/12 filing with the SEC, and boasting by Morgan Stanley for winning the lead underwriting role over rival Goldman Sachs.
Fear of Being Dropped by Facebook. Although Facebook issued no threats, firms have heeded the warning. They saw what happened to UBS, which was dropped from the General Motors IPO underwriting syndicate in November 2010. In this case, banking firms could lose not only the $40 million in deal fees, but also the prospect of future tech offerings - conducted by Facebook and other tech start-ups.
So-called quiet period. Having filed the S-1 registration statement with the SEC, Facebook and its team of underwriters are in a so-called quiet period. In the coming weeks, the underwriters will meet with Facebook - Zuckerberg, CFO David Ebersman, and COO Sheryl Sandberg - to reach the most appropriate valuation for the Menlo Park, CA, company. Underwriters will be looking to offer the social media giant’s shares at a level that deep-pocketed institutional investors can wrap their head and their wallets around.
If valued at $100 billion, that would mean the company would be worth 100 times its 2011 profits of $1 billion - not a quiet figure.
[NY Post, 2/5/12]

