Wednesday, November 26, 2008

Now This is a Digital Politics Story

My UC Irvine colleague Peter Krapp points out the posting of Facebook, Inc.: No Action, Interpretive and/or Exemptive Letter of October 14, 2008 on the website of the Securities and Exchange Commission in which the government asserts that "the Division will not object if Facebook, Inc. does not comply with the registration requirements of Section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act") with respect to restricted stock units granted and to be granted pursuant to the Company's 2005 Stock Plan in the manner and subject to the terms and conditions set forth in your letter." The letter from the chief counsel of Facebook, which is also posted on the SEC website, states the company's case for the exemption from regulation.

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