NEW YORK (Reuters) - Blackstone Group LP urged a federal appeals court not to revive an investor lawsuit accusing it of hiding bad investments before raising $4.7 billion in its 2007 initial public offering.
By Gerry Sullivan: The Facebook (FB) initial public offering has been filed and, according to the prospectus, the company plans to sell 337.4 million shares in a range between $28 and $35. At the $31.50 midpoint, the offering will be $10.6 billion. The Morgan Stanley-managed offering is expected to be priced Thursday, May 17, and begin trading Friday, May 18.
By Abe Garver:As an investment banker focused on the web-only e-commerce sector, and creator of the Web-only Retail Index, a diverse group of constituents have asked me to comment on Facebook's (FB) IPO and the outlook for the company.
Whenever a newly public stock falls quickly below its offering price, it's known in Wall Street speak as a broken or busted IPO.
Renaissance Capital IPO Research submits:
Vanguard Health Systems, Inc., which operates 26 acute care and specialty hospitals in five US states, filed on Friday with the SEC to raise up to $600 million in an initial public offering. The Nashville, TN-based company was founded in 1997 and booked $3.6 billion in sales and $337 million in adjusted EBITDA for the 12 months ended December 31, 2010.
California's attorney general called on a US federal court Tuesday to suspend a ban on gay marriages in the western US state, pending a long-running appeals process.Kamala Harris urged the Ninth Circuit US Court of Appeals to dismiss its order prohibiting same-sex marriages in California until an appeal of so-called Proposition 8 is resolved."Prop 8" was a measure approved by Californian voters in a referendum in November 2008, banning same-sex marriage. But last August a judge ruled that Prop 8 violated the US constitution, and appeals are ongoing.