Normally, the lockup period last 180 days but after the restatement the lockup will now expire on June 1.
Lehman couldn't sell the shares for 150 days after the Archstone deal, but that lockup period ended in late April.
WSJ: Lehman Selling Pieces of Stakes Acquired in Archstone Deal
Typically, there is a 180 day lockup period before a private equity firm can sell its stake after an IPO.
FORBES: IPO Market Showing Signs Of Life - Even For Stodgy Industrials
Like all inside investors, they can't distribute or trade shares until the lockup period expires, usually six months after an initial offering.
Early investors like Peter Thiel and Dustin Moskovitz are bailing, and the stock took a major hit after the first lockup period expired.
FORBES: Facebook Stock Gets a Bump From Zuckerberg's Reassurances
Facebook (NASDAQ:FB) is up nearly 3% premarket after news that CEO Mark Zuckerberg and two other company executives do not plan to sell any of their stock when their lockup period ends.
Early investors, employees and company insiders will be allowed to sell about 1.4 billion shares in coming months when Facebook's so-called lockup period ends and company insiders will be free to sell shares.
IPOdesktop.com President Francis Gaskins said that, over time, if Facebook doesn't deliver good earnings and other positive growth measures, institutional buying may drop off, especially once the company's lockup period expires and even more shares come into the market.
Some current holders may want to sell before the 180-day post-IPO "lockup" period, during which insiders and investors generally aren't permitted to sell their stock.
"We discovered a flaw in the Department of Commerce's lockup system during a testing period sponsored by the department, " said a Bloomberg spokesman.
That happened, the people said, after Bloomberg tested its computer system at an embargo procedure known as a "lockup" and found a flaw that could allow reporters to deliver data before the end of the embargo period.
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