LEGL 2700 Lecture Notes - Lecture 17: Mark Zuckerberg, Initial Public Offering, Financial Statement

• School: University of Georgia
• Department: Legal Studies
• Course: LEGL 2700
• Professor: Grow

Document Summary

Regulates initial (for the first time) sale of a security, ipo (initial public offering) Specifies who is bound by the act: parties regulated. Whoever is actually creating/issuing the security that people are buying. Ex: when fb went public, fb is the issuer: underwriter. Can be more than one, usually investment banks or security brokerage firms. Help walk them through the process and get to buy a chunk of stock at lower than market value: controlling person. Whoever is actually running the issuer (majority owner[s]) Anyone who goes out and tries to sell the securities to the public, like stock brokers, investment banks. Advertising or trying to drum up interest: required documentation, registration statement. Basically telling the government that you"re planning to sell a security and what it is, also being made public to investors. Includes all the parties regulated on it, describes company: prospectus. More detailed financial information (profits, statements, asset information: statutory time periods, pre-filing period.