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Suppose an underwriter encourages investors to place first-day bids for IPO shares that are above the offer price in exchange for reserving highly demanded IPO

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Suppose an underwriter encourages investors to place first-day bids for IPO shares that are above the offer price in exchange for reserving highly demanded IPO shares for them in the future. What type of abuse is the underwriter partaking in? Charging excessive commission Distorting financial statements Spinning Laddering

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