Professor David Lipton Interviewed
on Nightly Business Report
Professor David A. Lipton, director of the Securities Law Program at The Catholic University of America’s Columbus School of Law, was interviewed on the May 30 edition of Nightly Business Report, the Emmy-award winning business news program produced by PBS.
The news segment Lipton appeared in examined the potential liability for Facebook and its underwriters as a result of the recent public offering of its stock, a move widely viewed as a bungled debacle on Wall Street.
Joined by two fellow experts in securities law, Professor John Coffee of Columbia Law School and Jacob Frenkel, former SEC Enforcement attorney, Lipton argued that such potential liability is limited because although Facebook underwriters made selective disclosures to institutional investors regarding analyst downgrades of Facebook stock, the disclosures were based upon information already incorporated in the Facebook registration statement.