By Kate Hanaghan, 16 July 2002 17:00
NEWS The investment bank that created such infamous IPO stars as eToys, Webvan and eMachines has itself been forced to shut up shop. Robertson Stephens was formed back in 1978 but failure to find a buyer has forced parent company FleetBoston Financial to pull the plug on it. A total of 950 staff will lose their jobs although it is hoped the company will be able to sell off some of its assets. Robertson Stephens has also been under pressure from the legal issues. A number of shareholders lawsuits have accused the company of undervaluing share price value in order to purchase more shares only to sell them off after the IPO when prices were expected to rocket.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below