(REUTERS) — Massachusetts Secretary of Commonwealth William Galvin has issued a subpoena to Morgan Stanley over an analyst’s discussions with investors on Facebook
“The Securities Division has put out a subpoena to Morgan Stanley in connection with the analyst’s discussion with certain institutional investors about the revenue prospects for Facebook,” a spokesman for Galvin’s office said on Tuesday.
“Morgan Stanley followed the same procedures for the Facebook offering that it follows for all IPOs. These procedures are in compliance with all applicable regulations,” a Morgan Stanley spokesman wrote in an e-mailed statement.
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