The Underwriter Conundrum

Leary, Christopher O.
December 2005
Investment Dealers' Digest;12/19/2005, Vol. 71 Issue 48, p28
Trade Publication
The article focuses on issues related to underwriters in the U.S. Credit Suisse First Boston Corp., Goldman Sachs & Co. and Banc of America Securities LLC, three underwriters of the $583 million IPO of the futures brokerage firm Refco, were blamed by shareholders, when Refco Inc. filed for bankruptcy in October 2005. Hardly a month later, the Securities and Exchange Commission introduced new changes, many of them clearing the way for regular issuers to whisk their issues into securities markets whenever they wished.


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