The SEC has been so understaffed and underfunded they didn't go after Bernie Mandoff until after about 10 years of warnings. So I would think they won't bother with checking value of IPOs
Question 4: (10 Points) Is it true that, as you prepare for an IPO, you can assume that the share price, as listed on the prospectus, is a fair and good price because the SEC has vetted the prospectus? Explain!
