The IPO Buzz: Busting the Lock-Up Myth
(Editor’s Note: This is an updated column that clarifies a case of the extension of a lock-up period’s expiration date.)
These headlines – “As Lock-Up Expires, Groupon’s Shares Plunge” and “Groupon shares drop as IPO lock-up ends” – ran on two major financial news services on Friday, June 1. Not to be outdone, more than a dozen others chimed in with their versions of the same story.