By: Jared Sorin The recent near collapse of the US financial markets revealed problems in the public stock markets that have made them inhospitable to growth-stage companies, directly negatively impacting new company formation, innovation, job creation and America’s position in global competitiveness. For several decades, startup and emerging growth companies in the US followed a rather predictable path, raising angel capital, then engaging in one or more rounds of venture capital financing and, ultimately, undertaking an initial public offering – often in under five years from inception. Smaller, innovative companies thrived with access to the public markets, creating new products…
Author: Online Managing Editor
By: Adam Levy The Case Against Cuban The SEC Inspector General recently cleared the SEC of alleged wrongdoing in the insider trading investigation of Mark Cuban, owner of the Dallas Mavericks. (If you happen to have an abundance of time, see the inspector general’s 96-page report). It is an important case testing an 11-year old regulation, SEC Rule 10b5-2(b)(1), used to predicate liability under the misappropriation theory of insider trading. As this is not the first time this case is in the news, it is worth recapping what has happened so far in the courts. In March 2004, Cuban purchased…