Who Cares About SEC Rules When You've Got the Internet

from the idiots-and-the-internet dept

Great story about an idiot and the online porn company he runs telling everyone about how he was going public. It is, of course, illegal to promote your stock without a formal prospectus. This guy even was soliciting investors online. In a world where just saying that you’re going public without filing can be considered soliciting, this just goes well beyond any normal level of common sense. Of course, afterwards, they did file but I wonder who the hell would underwrite this. Just goes to show that in today’s super crazy internet stock world, people are not only investing with reckless abandon, they’re going public that way too…

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