The IPO Accoona was attempting to float on the NASDAQ suffered another setback yesterday when underwriter Maxim Group dropped out of the offering.
"After completing our due diligence review, we have chosen to disassociate ourselves with the company," said Edward L. Rose, vice chairman and general counsel of the Maxim Group.
Accoona tried another IPO earlier this year on the London AIM market but it too was quickly withdrawn.