LexisNexis® Legal Newsroom
eToys and the Rigged IPO Game

Joe Nocera in the Times last Sunday unearthed some Goldman emails about the eToys IPO from the dotcom era. eToys raised $164 million in a 1999 IPO and then subsequently failed. The story is familiar by now. The IPO was underpriced and Goldman spun shares off to preferred clients. After the company...