Due diligence meeting

Due diligence meeting

Meeting legally required to be held by an underwriter to enable brokers to question a new issuer about an upcoming issue.

Due Diligence Meeting

An internal meeting held after the registration of a new security with the SEC but before the registration's effective date. Under the Securities Act of 1933, all accountants, counsel, underwriters, and managers can be held civilly liable for knowingly making false or misleading statements in the registration documents. In order to shield themselves from liability, representatives of the registrant conduct a meeting before the registration becomes effective to discuss and if necessary remedy any issues that may have arisen. This is considered a necessary part of due diligence prior to the issuance of a new security.
References in periodicals archive ?
Twenty-four due diligence officers representing various broker/dealer firms attended the Cornerstone Real Estate Funds due diligence meeting at the company's corporate headquarters on July 21st and 22nd.
Joe Barile, Essex & York's CEO, stated, "We are disappointed with the performance of Stratus and by the events that have transpired since the due diligence meeting with Stratus prior to the secondary offering.
Pink Sheets:NMCX) reported today on a due diligence meeting that was held at its Skull Valley (Ariz.
Yesterday, the Company met with the Long Island Investment Banker's Association at Ruth's Chris Steakhouse for a due diligence meeting designed to help market and promote the Company's common stock.
The due diligence meeting onboard the ship afforded attendees an opportunity to experience a mid-week cruise and to get an up-close view of the Company's existing ship.
a publisher of interactive multimedia CD-ROM software for the small office/home office and family lifestyle markets, announced Thursday that it will conduct a due diligence meeting in New York City on Nov.
Applicants were then graded based on in-person and telephone due diligence meetings and a ranking algorithm that factors in client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria (including assets under management and revenue generated for their firms).
3 Review and comment on the preliminary and final official statements, participate in due diligence meetings, and participate in bond document review sessions.
The most common such service last year was support for due diligence meetings (87%), on exact par with the year prior.
A Cerberus spokesman added: "It is standard operating practice to hold due diligence meetings of this nature with government ministers in advance of making a bid, especially as we had never invested in Northern Ireland previously.
RIAs find white papers, thought leadership pieces and economic-oriented commentaries or outlooks most useful, while wirehouse advisors prefer sales ideas and seminars and regional and independent advisors prefer due diligence meetings and product training.
UK insurer Resolution said yesterday it had held due diligence meetings with rivals Standard Life and Pearl, but said it had held no talks on proposals and had received no firm offers from the suitors.