How Goldman Sachs Screwed Up Its Facebook Offering

lloyd blankfein

About 4 minutes into this clip, Wedbush Analyst Lou Kerner asks securities lawyer Mitchell Littman what went wrong with Goldman Sach’s Facebook stock offering earlier this year.

Littman’s explanation gets a little jargon-y but it’s the best and briefest we’ve heard yet.

The even-shorter version: All the media hubbub around the offering had Goldman lawyers worried the SEC would say the firm was actually advertising the deal – a no-no when it comes to private stock offerings.

Here’s the clip. Skip to 4 minutes in to hear Littman’s explanation:

@LouKerner Episode #1 from AtLouKerner on Vimeo.

Related: The Only 10 Things More Popular Than Facebook

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