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Fact Pattern: At the Organizational Meeting for the initial public offering of Hi Tech, Inc., the CEO announces that she gave an interview to a
Fact Pattern: At the Organizational Meeting for the initial public offering of Hi Tech, Inc., the CEO announces that she gave an interview to a major mass circulation magazine a week earlier. The interview topics included the following four statements: Statement 1: "The company's financial performance for the most recent year." Statement 2: "The CEO's expectations for the company's financial performance for the current year." Statement 3: "The terms on which the company most recently raised capital in a private placement." Statement 4: "The possibility that the company might go public at some point in the near future." The timing of the publication of the interview is uncertain. The company and the prospective underwriters would like to file a registration statement 6 weeks following the date of the Organizational Meeting. Questions: Are any of Statements 1-4 above problematic for the offering? If so, why? For any of the Statements that you find problematic, please discuss: The possible adverse consequences, AND How the problem can be resolved Note: If you believe you need to assume additional facts in order to answer the question, state those facts and why they are necessary to answer the
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