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3. Re: Evening Legal Briefs Jul 28, 2012, 07:40 killer_roach
Cutter wrote on Jul 28, 2012, 04:00:
Looking forward to what the SEC has to say.

As far as I can tell, they filed all the SEC disclosure paperwork for that... it's just coming to light now that people are seeing the stock value tank.

I considered putting money into Zynga stock, seeing as they had some upside potential... but seeing their recent earnings report, I'm glad I didn't. Right now they seem unable to hold their past levels of revenue and profit, which makes their current valuation (even reduced about 80% from its highs) sketchy to say the least.

I bet we'll be seeing similar stories out of Facebook in a few months as well - both companies being ones who, inexplicably, filed their IPO at what could arguably be their peak.

It may just be a function of how compliance with Sarbanes-Oxley affects companies wanting to go public, but, in the wake of most of these social media IPOs in the last year or two, I'm guessing investors might start looking at these more in the way that I have been - that they're not raising cash to grow the company, the principals are simply trying to cash out.
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