Report: SEC Finds No Evidence That Facebook Withheld Information From Investors Pre-IPO

A source familiar with the Securities and Exchange Commission told Bloomberg that while the agency’s investigation of Facebook over its actions prior to its May 18 initial public offering is still ongoing, no evidence has been found that the social network withheld material information from investors.

A source familiar with the Securities and Exchange Commission told Bloomberg that while the agency’s investigation of Facebook over its actions prior to its May 18 initial public offering is still ongoing, no evidence has been found that the social network withheld material information from investors.

Former SEC Lawyer and current Wayne State University Professor Peter Henning told Bloomberg:

It’s unlikely that the SEC will pursue an enforcement action against Facebook based on what they were discussing before the IPO.

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