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Boca, Boka Ltd. is the lead underwriter of Kinko Company common stock. Kinko common shares are currently quoted on Nasdaq, and Boca, Boka has maintained

Boca, Boka Ltd. is the lead underwriter of Kinko Company common stock. Kinko common shares are currently quoted on Nasdaq, and Boca, Boka has maintained a bid to purchase Kinko common at $9 for several days prior to Kinko's registration statement becoming effective. The last quoted price before Boca, Boka entered its $9 bid was $9.25. Just before it filed the pricing amendment, the last sale price of Kinko common stock was $9.50. Kinko filed its pricing amendment, setting an offering price of $9.50, and the Commission's staff permitted acceleration of that amendment, so that the registration statement became effective at 10 a.m. that day. Boca, Boka then increased its bid to $9.50. Do Boca, Boka's actions constitute lawful stabilization? (Stabilization is the fixing of a security's market price through purchases or bids for the limited purpose of preventing a decline in the security's price during a publicoffering of the security.)

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