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Short-Swing Trading Initial Public Offering (IPO)

Morrison & Foerster LLP - JOBS Act

Second Circuit Holds Facebook IPO Underwriters Not Subject to Short-Swing Profit Rules

On November 3, 2016, the Second Circuit upheld the district court’s ruling involving the Facebook IPO that underwriters of the IPO are not required to disgorge short-swing profits made with their sales and purchases of shares...more

Skadden, Arps, Slate, Meagher & Flom LLP

Corporate Finance Alert: Second Circuit Upholds District Court’s Facebook Lock-Up Ruling: Underwriters Not Subject to Group...

On November 3, 2016, in Lowinger v. Morgan Stanley & Co. LLC, the U.S. Court of Appeals for the 2nd Circuit upheld a district court finding that customary initial public offering (IPO) lock-up agreements do not render parties...more

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