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How SOX affected IPOs
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The Sarbanes-Oxley Act of 2002, commonly referred to as SOX, is a federal law enacted by Congress in response to massive corporate and accounting fraud in the early 2000s. Investors from major corporations such as Enron, Tyco, Adelphia and WorldCom lost heavily due to deceptive and highly inaccurate financial statements. The loss of billions of dollars in shareholder wealth shook investor confidence in the U.S. financial markets. In an effort to shore up confidence from the capital markets, the legislation aimed at institutionalizing management, financial and accounting controls at U.S. publicly-traded companies. Continue to Investopedia article
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