Bengtsson, Ola; Dai, Na; Henson, Clifford - In: Journal of Banking & Finance 42 (2014) C, pp. 213-231
In 2002, the SEC launched enforcement actions against investors involved in PIPE (Private Investments in Public Equity) transactions. We describe the legal ramifications of this enforcement initiative, and document dramatic contemporaneous market-wide changes in the contractual structure of...