Politics, Weather, Photography, and the Dog
Wednesday 23 May 2012

At dinner last night with some of my B-school friends, conversation turned to the two most perplexing stock offerings of the last year: Facebook's and Groupon's. In both cases, the companies' very young owners and very rich venture capital investors got rich, but what happened after that? Here's Facebook's performance this week:

And Groupon's:

This morning, Groupon announced a proposed settlement in the class-action suit accusing them of practicing their well-known business model:

If you purchased or received a Groupon Voucher issued for redemption in the United States between November 1, 2008 and December 1, 2011, then you are a member of the class (“Class Member”) for purposes of this class action settlement, and may be entitled to receive settlement benefits, unless you are one of the following: (1) an employee of Groupon, Inc.; (2) a business with whom Groupon has partnered to offer Groupon vouchers (“Merchant Partners”); or (3) a parent company, subsidiary, affiliate or director or officer of Groupon or a Merchant Partner.

Facebook has its own problems. It's been a public company for less than three days, and already the SEC is investigating. Where they go, lawsuits surely will follow:

[R]egulators are concerned that banks may have shared information only with certain clients, rather than broadly with investors. On Tuesday, William Galvin, the secretary of state in Massachusetts, subpoenaed Morgan Stanley over discussions with investors about Facebook’s offering. The Financial Industry Regulatory Authority, Wall Street’s self-regulator, is also looking into the matter. The chairwoman of the Securities and Exchange Commission, Mary L. Schapiro, said Tuesday that the agency would examine issues related to Facebook’s I.P.O., but she did not elaborate.

Morgan Stanely, the banker in question, led both the Groupon and Facebook IPOs.

At least they didn't lose $2 billion last week gambling with money insured by us taxpayers.

Wednesday 23 May 2012 08:21:59 PDT (UTC-07:00)  | Comments [0] | US | Business#
Comments are closed.
Search
On this page....
Countdowns
The Daily Parker +3082d 15h 45m
To San Francisco 31d 07h 59m
Parker's 8th birthday 53d 21h 29m
My next birthday 134d 19h 46m
Categories
Aviation (300) Baseball (100) Best Bars (4) Biking (42) Chicago (828) Cubs (179) Duke (131) Geography (300) Higher Ground (5) Jokes (282) Kitchen Sink (580) London (32) Parker (181) Daily (204) Photography (134) Politics (302) US (1015) World (223) Raleigh (20) Readings (8) Religion (61) San Francisco (77) Software (186) Blogs (67) Business (203) Cloud (79) Cool links (123) Security (94) Travel (141) Weather (653) Astronomy (72) Windows Azure (46) Work (27) Writing (7)
Links
Archive
<April 2014>
SunMonTueWedThuFriSat
303112345
6789101112
13141516171819
20212223242526
27282930123
45678910
Full archive
Blogroll
About
David Braverman and Parker
David Braverman is a software developer in Chicago, and the creator of Weather Now. Parker is the most adorable dog on the planet, 80% of the time.
Legal
All content Copyright ©2014 David Braverman.
Creative Commons License
The Daily Parker by David Braverman is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License, excluding photographs, which may not be republished unless otherwise noted.
Admin Login
Sign In
Blog Stats
Total Posts: 4268
This Year: 166
This Month: 31
This Week: 4
Comments: 0