Mark mahaney citigroup stock
Mark mahaney citigroup stock
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Star Silicon Valley analyst felled by Facebook IPO fallout
SAN FRANCISCO (Reuters) - The firing of Citigroup (C.N) stock analyst Mark Mahaney on Friday in the regulatory fallout from Facebook Inc’s (FB.O) initial public offering was greeted with shock and dismay in Silicon Valley, where Mahaney was a well-known and well-liked figure.
“Pretty shocked,” was the reaction of Jacob Funds Chief Executive Ryan Jacob, who described Mahaney as one of the most respected financial analysts covering the Internet industry.
“I’d put him at the top.
If not at the top, then near the top,” said Jacob. “He really knew what to look for.”
In addition to firing Mahaney, Citigroup paid a $2 million fine to Massachusetts regulators to settle charges that the bank improperly disclosed research on Facebook ahead of its $16 billion IPO in May.
The settlement agreement said Mahaney failed to supervise a junior analyst who improperly shared Facebook resear