Google May Have Given Out Unregistered Shares

from the another-day,-another-lawsuit dept

Can a single day go by these days without another story about Google getting sued about something? The latest is that the company is admitting they screwed up in giving out millions of shares. They didn’t register the shares, and may have broken securities laws in doing so. They’re now trying to correct the matter by buying back the non-registered shares, but admit that some people may end up suing them anyway. Plus, it’s possible that they may get in trouble with government officials who usually don’t look to kindly on securities fraud.

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Comments on “Google May Have Given Out Unregistered Shares”

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Anonymous Coward says:

You're missing the real story, Mike

Wall street is trashing the IPO because they want to kill the auction IPO concept _and_ because they want to scare other buyers out of the auction. In fact, this may be the crucial weakness of an auction IPO; wall street wins by bashing, not hyping. In a normal IPO they would hype it to build demand so they can make a killing flipping the shares on IPO day.

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