Thanks to Sarbanes-Oxley,
In 2005, 23 of 24 firms that raised over $1 billion in capital didn’t register in U.S. markets, according to the New York Stock Exchange. Of the 129 companies listed with the London Stock Exchange last year, only 6 listed on the NYSE and 14 on Nasdaq. Ninety percent of companies that chose London over New York said Sarbox was a factor.
Now I'm not sure where Mr. Kerpen got his numbers, however, I've seen about a half-dozen examples containing similar figures. According to an Inc.com. story:
a record 198 companies delisted in 2003, the first full year after the passage of Sarbanes-Oxley, and another 134 did so in 2004, according to a study by Christian Leuz, a professor of accounting at the University of Pennsylvania's Wharton School. That compares with just 67 that jumped in 2002 and 43 in 2001. Another study by law firm Foley Lardner found that 21% of public companies have considered going private or selling out as a result of the act.
See full Article.
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