Underwriters of initial public offerings are more frequentlyeasing lockup restrictions that limit corporate insiders' sale oftheir shares for a set period after the IPO, the Wall StreetJournal reports. It cites underwriters' allowing investors andmanagers in ExactTarget to sell some of their shares yesterdayy,before the lockup period had ended. Such lockup agreements areintended to bolster the stock's price in the wake of the IPO, butthe Journal notes that ExactTarget's shares rose 1.1%yesterday.
Underwriters have allowed 10 lockup agreements to expire earlythis year.
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