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Accidental IPO deal on web siteTheFunded.com has started hosting "live pitches" on their web site. These pitches include statements about potential revenue of a company, business models, money currently raised, money being raised, and statements of the valuation of the company. Isn't this an IPO? If a company is making such statements and announcing their search for investors - as such offering an investment opportunity, isn't that a defacto IPO? Attorney answers (1)
Reputation Level 20
Answered over 3 years ago.
Criminal Defense Attorney in San Francisco, CA.
An IPO is an initial offering of a company's stock on a nationally traded exchange. This does not seem to have anything in common with hosting live pitches on a web site; however if these pitches are untrue, misleading or fraudulent and the company doing the pitching is publicly traded there could be securities law violations on the federal level. There also exists the possibility that these pitches violate state blue sky laws.
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