The SEC's website is the new location of the New York Times' corrections page. NetSuite stock is up 12 percent today after its $26-a-share IPO debut, a long-awaited victory for the Larry Ellison-backed software company, as the Times noted earlier this week. But it appears that the paper got several things wrong.
Normally, a prissy letter to the editor would be in order. But since the story ran while NetSuite was in a quiet period, the time prior to an IPO when a company can only communicate through the smoke signals of SEC filings, NetSuite had to issue a "free writing prospectus" instead. While some of its complaints seem like quibbles, others seem like easily checked facts, such as when CEO Zach Nelson, shown here, joined the company. As far as I can tell, Times has not yet corrected the story. When the SEC has become your newspaper's unofficial ombudsman, you have a problem.