The Joys of Being a Public Company
Do you think salesforce.com is pining for the good old days when it was a private company yet? First, as discussed in this post from early June, salesforce.com was forced to postpone its planned IPO because of concerns over "gun-jumping," i.e., actions that arouse public interest in an issuer or in the securities of an issuer in advance of a public offering. Now, just over a month after going public on June 21, the company has been sued in this securities class action lawsuit alleging that the Prospectus failed to disclose that salesforce.com management was expecting earnings to decline in FY 2005.
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