How IPOs give the ‘illusion of diversity’ with underwriters, while paying minority-owned firms less
A view of the New York Stock Exchange (NYSE) is seen at Wall Street on June 29, 2020 in New York City.
Angela Weiss | AFP | Getty Images
Warner Music Group Corp., the label for artists like Ed Sheeran and Cardi B, went public last month with 28 underwriters. More than a third of those firms were so-called MWVBEs, a special designation that stands for minority/women/veteran-owned business…
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