Google bosses face SEC probePosted 16/08/2004
Internet company Google may face an investigation following a Playboy interview with the search engine's bosses.
Co-founders Sergey Brin and Larry Page may have violated the Security Exchange Commission's rules by courting the media prior to an IPO.
However, Google said it would "vigorously" contest any such claims by the regulator.
The company plans to issue 25.7 million shares to investors in an unconventional scheme with shares priced between $108 and $135 each, which could value Google at more than $36 billion.
The flotation is based on a complicated Dutch auction process to sell its shares to investors. Google and its underwriters, Credit Suisse First Boston and Morgan Stanley, will take bids from potential investors who must state how many shares they want to buy and at what price.
If found guilty of breaking the "quiet period" rules then the flotation could be subject to a severe delay, although Google hopes to avoid this by updating the regulatory filing to include the text of the interview.
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