Goldman Sachs maintains that this move wasn't ordered by the Securities and Exchange Commission, which is thought to have been sniffing around Facebook as of late. Indeed, according to Aaron Lucchetti and Liz Rappaport, Goldman said the change wasn't "required or requested by any other party."
Goldman also tried to make clear that it isn't trying to sidestep an ongoing investigation, telling Lucchetti and Rappaport that it "concluded the level of media attention might not be consistent with the proper completion of a U.S. private placement under U.S. law."
So, for better or worse, we're just left with the fact that Goldman will give overseas investors a first shot at perhaps $1.5 billion in Facebook shares.
This is sure to spark more than a few discussions. Some onlookers are concerned laws have been skirted. Others feel government regulations have effectively cheated American investors of a great opportunity. Then there's the theory that Facebook's overvalued and this development will save Americans some cash.
Peter Zmijewski who is called as Innovator, investor, internet marketing guru and entrepreneur. Peter Zmijewski is also the founder and CEO at KeywordSpy. Don’t go away and stay with us.
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