by Brian Solis

Recession? What recession? The IPO seems to be making a rare appearance.

According to TechCrunch, FriendFinder Networks, formerly Penthouse Media Group, has filed to go public.

Here’s the S-1.

Renaissance Capital out of Russia is navigating the process. The company hopes to raise ~$460 million which earmarked to pay off the nearly half billion dollars in current debt .

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by Brian Solis

Mark Cuban at TC50 2008

In a surprising move, The SEC filed and officially announced insider trading charges against Mark Cuban. The SEC contends that Cuban sold 600,000 shares of the stock in Mamma.com (now known as Copernic), an Internet search engine company, on the basis of material, non-public information concerning an impending stock offering.

According to Linda Chatman Thomsen, Director of the SEC’s Division of Enforcement, “Insider trading cases are a high priority for the Commission. This case demonstrates yet again that the Commission will aggressively pursue illegal insider trading whenever it occurs.”

Mark Cuban, however, responded to the allegations through his blog, “I wish I could say more, but I will have to leave it to this, and let the judicial process do its job.”

He continued in a formal statement, “I am disappointed that the Commission chose to bring this case based upon its Enforcement staff’s win-at-any-cost ambitions. The staff’s process was result-oriented, facts be damned. The government’s claims are false and they will be proven to be so.”

Ralph C. Ferrara, Esq., Cuban’s attorney, also published a statement, “This matter, which has been pending before the Commission for nearly two years, has no merit and is a product of gross abuse of prosecutorial discretion. Mr. Cuban intends to contest the allegations and to demonstrate that the Commission’s claims are infected by the misconduct of the staff of its Enforcement Division.”

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by Brian Solis

I posted a story today on TechCrunch that discusses the SEC’s decision to recognize corporate blogs as public disclosure and the impact it has on investors, PR, IR, wire services and press releases.

Here’s an excerpt:

For several years, Sun CEO, Jonathan Schwartz has lobbied the SEC to allow disclosure of financial information through corporate blogs. In a landmark announcement, it seems that Mr. Schwartz may indeed get his wish, and with it, a historical decision that could break the age-old shackles that bound businesses to traditional media and distribution channels in order to satisfy full disclosure.

In a speech yesterday, SEC special counsel Kim McManus outlined new guidance the SEC is about to give companies on when they can use their Websites, including blogs, to disclose material information. What this means is that we can now finally kill the press release, at least in its current form…

For the full story, please visit TechCrunch.

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