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On 11/19/2002 9:29:04 AM Farley wrote:
Or, perhaps a third possibility. The said banker is part of the IPO team, then later issues a downgrade of the stock (that they helped bring on the market), and finally the same banker unloads millions of shares as the 180 day lockup expires, trashing the stock price. Yes, that would piss anyone off.
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So the investment bank should lie about it's true feelings about the worth of the stock to prop up your stock options at the expense of the little guy (small investor)? They have special federal prisons for that type of banker. Yes, they helped to bring it to market, but like your own management, they had no idea it would be bid up beyond reasonable levels. It is their fiduciary DUTY to be as acurate and unbiased as possible when rating a stock.