Regulators Reviewing Chicago Pizza’s IPO

NASD Regulation, the brokerage regulatory arm of the National Assn. of Securities Dealers, is reviewing the 1996 initial public offering of Mission Viejo-based Chicago Pizza & Brewery Inc. In a letter sent to certain investors who purchased the stock from the underwriter, Century City-based Boston Group, NASD Regulation is asking for copies of “account-opening records, correspondence with the Boston Group, trade confirmations and monthly account statements.” A spokesman for NASD Regulation declined to comment on the reason for the review, but the letter states that “our inquiry should not be construed as an indication that any violations of our rules have occurred or as a reflection upon the merits of the securities or the individuals involved.” Chicago Pizza’s stock was issued at $5 a share. It closed Wednesday at $1.72 on Nasdaq. Neither Chicago Pizza nor Boston Group has been contacted by NASD Regulation, the companies said.