SEC Denies Web Provider's IPO Withdrawal Request

Law360, New York (March 1, 2011, 5:15 PM EST) -- Internet service provider Wave2Wave Communications Inc. hit a stumbling block in its plans for an initial public offering on Thursday when the U.S. Securities and Exchange Commission issued a rare denial of the company's request to withdraw the IPO.

Wave2Wave announced a stock offering last year and amended its plan several times, including twice in January, and asked the SEC for a conditional withdrawal before requesting a complete withdrawal on Feb. 10.

While the latest request did not include a reason, a Wave2Wave letter sent to...
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