No company if forced to "go public" by trading on a public exchange. But the Securities & Exchange Act of 1934 requires public disclosure of some financials aft

No company if forced to "go public" by trading on a public exchange. But the Securities & Exchange Act of 1934 requires public disclosure of some financials after a company accumulates 500 shareholders and $10 million in assets. The SEC granted Facebook an exception in November 2008 because many of the shareholders hold restricted stock. Read more below: http://www.insidefacebook.com/2008/11/23/facebook-gets-sec-disclosure-exemption-as-number-of-stockholders-grows/ http://www.insidefacebook.com/2008/11/23/facebook-gets-sec-d...