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.

Reader Comments (rss)

(Flattened / Threaded)

  1. identicon
    GoogleUsuallyRocks, Aug 4th, 2004 @ 9:29pm

    Shares way too high

    I just can't understand what drugs they are smoking, setting the stop prices so high.

    It sure turned me off.

    I don't want to pay $89 broker fee just to buy 5 shares....!!!

    reply to this | link to this | view in thread ]

  2. identicon
    Anonymous Coward, Aug 4th, 2004 @ 10:52pm

    Wasn't this already disclosed in the original s1?

    What's new here?

    reply to this | link to this | view in thread ]

  3. identicon
    Anonymous Coward, Aug 5th, 2004 @ 7:07am

    Google sucks...

    Is it just me or do companies, as they begin to approach becomming a publically held company, all of a sudden just start to suck heavily?

    The google stock offering is highly radioactive. Anyone who buys in at anywhere near the asking price deservers their third degree burns.

    reply to this | link to this | view in thread ]

  4. identicon
    Anonymous Coward, Aug 6th, 2004 @ 12:49am

    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.

    reply to this | link to this | view in thread ]

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