Monday, May 2, 2011

Fallbrook Technologies Pulls IPO

San Diego-based Fallbrook Technologies, the developer of electrical transmission technology for the automotive industry, has pulled its IPO, according to a filing from the firm. Fallbrook said in the filing that it has decided to pull its initial offering "because of unfavorable market conditions." Fallbrook had originally filed for an IPO in February of 2010. Fallbrook is venture backed by NGEN, Mtion Systems, and others.