Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
The We Company, WeWork's parent company, named spiraling losses and the unpredictable real estate market as risk factors in its newly released IPO prospectus Wednesday, but comments from CEO Adam Neumann may generate some risks of his own.
Neumann gave interviews to Business Insider and Axios in May, just months before WeWork's S-1 became public. Those interviews are listed in WeWork's S-1 as potential risks to its business, as they may violate the Securities and Exchange Commission's IPO quiet period rules, which prevent companies from making certain public statements ahead of an initial public offering.
As the SEC states, the quiet period "extends from the time a company files a registration statement with the SEC until SEC staff declare the registration statement 'effective.'" WeWork announced in April that it had filed confidentially for an IPO in December 2018.
In both articles, Neumann and other WeWork executives discussed the company's "business strategy and results," the filing states. The company denied violating quiet period rules and said it would "vigorously" contest any claims that it committed a Securities Act violation.
"We do not believe that our involvement in the May 2019 online news articles or other news articles constitutes a violation of Section 5 of the Securities Act," WeWork said in its S-1 filing.
If a court decided that WeWork violated quiet period rules, the company said it would be required to repurchase all shares sold in its IPO at their original purchase price for one year following the violation, "plus statutory interest."
WeWork urged investors to refer to its IPO prospectus, not recent news articles, when evaluating the company.
Tech companies are no stranger to flirting with the SEC's quiet period rules. Google raised similar concerns when co-founders Larry Page and Sergey Brin gave Playboy magazine an interview in the lead up to the company's 2004 IPO.
Similarly, Match Group-owned Tinder caught flack after CEO Sean Rad gave a controversial interview to the London Evening Standard the night before its 2015 IPO. In 2004, the SEC forced Salesforce to delay its IPO after CEO Marc Benioff spoke to the New York Times during the quiet period.