FB: Massachusetts Fines Morgan Stanley $5M Over Discussions of Estimates Pre-IPO
As further fall-out to the botched initial public offering of Facebook (FB) on May 18th, Massachusetts’s secretary of the commonwealth Francis Galvin this afternoon announced that Morgan Stanley (MS), the lead underwriter of the IPO, has agreed to a $5 million fine without admitting to, nor denying, what the state said were violations it committed [...]
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