Business Services Industry
California Business Software Firm's Executive Says IPO Postponed.
Knight Ridder/Tribune Business News, May, 2004
Contra Costa Times, Walnut Creek, Calif. Knight Ridder/Tribune Business News
May 19--SAN FRANCISCO -- The business software company Salesforce.com has delayed its initial public offering, which had been scheduled for Monday, according to an executive close to the process.
The Securities and Exchange Commission requested that the company delay its public offering after commissioners decided that Marc Benioff, Salesforce's chief executive, violated the SEC-imposed "quiet" period, the executive said. The SEC quiet period requires that company executives keep a low profile before selling stock to the public.
SEC officials were concerned about comments by Benioff that appeared in an article in The New York Times on May 9, the executive...
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