In the News

Bob Murphy Quoted in Chicago Tribune Article on JOBS Act

Story Also Cites Dykema-Sponsored Conference Earlier This Year

December 18, 2012

Robert B. Murphy, senior counsel in the Firm’s Business Services Department and its Public Company Practice Group, was quoted in a Chicago Tribune article, “JOBS Act intended to help workforce grow, but investor advocates have concerns.” This article, published on December 9, 2012, refers to one wag’s description of the JOBS Act as the “Jumpstart Our Bilking of Suckers Act”, a quote that emerged from a JOBS Act Conference hosted and arranged by Dykema, in its Chicago office, in May 2012.

Murphy notes that since the JOBS Act was signed into law by President Obama in April 2012, more than 600 businesses have filed as “emerging growth companies.” He adds that roughly 1 in 8 of companies that have filed with the SEC are “blank check” companies, devoid of employees and operations and primarily in existence to go public through a reverse merger without incurring the expenses of an initial public offering.

Another industry expert quoted in the article is Brett Paschke, head of equity capital markets for William Blair & Co. Paschke served as special guest speaker at the Dykema-hosted JOBS Act Seminar earlier this year.                                                                       

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