Suing The IPO Class Of 1999
from the seems-a-bit-late-now dept
An article that takes a look at the new trend of suing investment banks and companies that went IPO over the last two years, by saying that the banks artificially inflated the value of the offerings and didn't fairly disclose what they were doing. We've discussed here before all the different legal, semi-legal, and illegal ways that banks can pump up an IPO price. My question on all of this is why it took two years for any of these class action suits to get filed. If the companies did something wrong, shouldn't the lawsuits get filed right away? It seems that people wanted to wait to see if they got filthy stinking rich from the bubble, and are only suing now that the bubble's gone.
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