How to defraud public legally

“Rocket Fuel, an advertising technology company, released its most recent financial results after the markets closed on Thursday and the outcome looks to be equally ugly. Shares of the company are getting hammered in after hours trading, plummeting by 25% to $20.69. Rocket Fuel raised some $116 million in its IPO by selling stock at $29 a share. It stock increased by 93% in its first day of trading, closing at $56.10.

Rocket Fuel conducted a secondary offering earlier this year by selling stock for $61 per share. Pre-IPO venture capital investors and other insiders received $175 million. About $100 million of that windfall went to venture capital firm Mohr Davidow Ventures. Rocket Fuel CEO George John also sold some $18 million of stock”  – source FORBES

Most of the internet based businesses operate this way. I left my “real job” because the company I worked for, was headed down the same path. As a matter of fact it still is.

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