Prospectus: Difference between revisions
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{{g}}A long document describing a deal which no-one reads, but which lead managers are nonetheless convinced presents them with risk of huge liability. | {{g}}A long document describing a deal which no-one reads, but which lead managers are nonetheless convinced presents them with risk of huge liability. Much of it accordingly comprises [[disclaimer]]s, and there is a specific legal department employee — a [[red-herring ninja]] — who can make an entire living in the cool, nourishing foliage of such a document. | ||
Also called an “[[information memorandum]]” or an “[[offering circular]]”. A draft version — sometimes released for pre-marketing purposes — is called a “[[red herring]]”, on account of some red text written vertically down the margin. | Also called an “[[information memorandum]]” or an “[[offering circular]]”. A draft version — sometimes released for pre-marketing purposes — is called a “[[red herring]]”, on account of some red text written vertically down the margin. | ||
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*[[Inhouse legal team of the year]] | |||
Revision as of 15:25, 2 December 2019
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A long document describing a deal which no-one reads, but which lead managers are nonetheless convinced presents them with risk of huge liability. Much of it accordingly comprises disclaimers, and there is a specific legal department employee — a red-herring ninja — who can make an entire living in the cool, nourishing foliage of such a document.
Also called an “information memorandum” or an “offering circular”. A draft version — sometimes released for pre-marketing purposes — is called a “red herring”, on account of some red text written vertically down the margin.