Goldman Limits Facebook Investment to Foreign Clients |
| New York Times - Jan 17, 2011 |
Just over a week after Goldman Sachs offered its most prized clients a chance to invest in Facebook, the firm rescinded the opportunity from clients in the United States because of worries that the deal would run afoul of securities regulators.
The withdrawal of the offer — which valued Facebook at $50 billion — is a major embarrassment for Goldman, which had marketed the investment to its wealthiest clients, including corporate magnates and directors of the nation’s largest companies.
The offering was supposed to have been a triumph for the firm, which is trying to move past its previous run-in with regulators, including its $550 million settlement with the Securities and Exchange Commission over a complex mortgage investment. But the Facebook proposal is now likely to raise new questions about whether the firm tried to push regulatory boundaries once again.
Read Full Article from New York Times
- Posted: 2011-01-17 14:15:49
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