Last Call For Soliciting Investors On Facebook
Using Facebook to solicit potential investors is frowned upon by the Securities and Exchange Commission, even if the investment involves a cold beer on a hot summer day.
Using Facebook to solicit potential investors is frowned upon by the Securities and Exchange Commission, even if the investment involves a cold beer on a hot summer day.
Reuters reported that the SEC put the kibosh on using Facebook and Twitter to plug BuyaBeerCompany.com.
It was launched by Brian William Flatow and Michael Migliozzi in November 2009 in an effort to attract investors in Pabst Brewing, granting them certificates of ownership and “beer of a value equal to the amount invested.”
The SEC said Flatow and Migliozzi failed to register with securities regulators and file necessary disclosures, according to Reuters.
Flatow
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