SEC’s Pre-IPO Facebook Queries Fuel Monday Morning Quarterbacking

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In the weeks running up to Facebook’s initial public offering on May 17, correspondence between the Securities and Exchange Commission and the social media giant flew fast and furious. The government agency had a number of questions about Facebook’s business model that it felt were not adequately addressed in its S-1 filing early in the year, according to documents just made public. Facebook wound up amending its filings several times in response to the SEC queries and requests.

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