Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: Sir Auric Goldfinger who wrote (3436)	6/17/2001 8:35:22 PM
From: RockyBalboa	Read Replies (1) of 3543

And here's how it ends, is it blasphemy? >>>>>>> Finance: More IPO Ire By Megan Barnett Trouble continues to mount for Credit Suisse First Boston: A trustee on behalf of Mortgage.com filed a class-action complaint against the investment bank last week. The online lender, which went public in August 1999 and filed for bankruptcy this year, alleges that lead underwriter CSFB underpriced shares and was "unjustly enriched" by kickbacks it received in exchange for the shares. CSFB, along with several other investment banks, is being investigated by the SEC, NASD and U.S. Attorney for its IPO-allocation practices during the Internet stock boom of recent years. More than a dozen class-action suits have been filed on behalf of shareholders, but this is the first case brought by a firm that sold stock in an initial public offering. A CSFB representative says the firm believes the allegations have no merit. Evidence in Credit Suisse's favor: Instead of popping on its opening trade, Mortgage.com shares lost about 10 percent opening day. And in looking at what's left of Mortgage.com - the firm exists as a shell company called MDCM Holdings with about $25 million in unpaid bills - it will be hard to argue that its $358 million IPO market cap was in fact too low. .... biz.yahoo.com never seen such arrogant bozos...

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