Facebook Sued

Facebook Sued, Subpoenaed About IPO

Wed, 23 May 2012 10:17:25 -0700 Facebook and its IPO underwriters are being sued and face pointed questions from lawmakers about whether they misled some investors before the largest tech IPO in the U.S. http://abcnews.go.com/Business/facebook-stock-big-investors-insider-information/story?id=16412999

Facebook, banks sued over IPO

Wed, 23 May 2012 07:03:16 -0700 Facebook Inc and Morgan Stanley , the lead underwriter of social networking companys IPO, were sued by shareholders who claimed the defendants hid Facebooks weakened growth forecasts ahead of its $16 billion initial public offering. http://www.toledoblade.com/Technology/2012/05/23/Facebook-Zuckerberg-banks-sued-over-IPO.html

Facebook, banks sued over pre-IPO analyst calls

Wed, 23 May 2012 12:50:16 -0700 Facebook Inc and lead underwriter Morgan Stanley were sued by shareholders who claimed they hid the social networking company's weakened growth forecasts ahead of its $16 billion initial public offering. … http://finance.yahoo.com/news/facebook-zuckerberg-banks-sued-over-130237689.html

Facebook Sued by Investors Over IPO – Truthdig

Facebook faced more bad news Wednesday in the wake of its botched initial public offering. Shareholders filed a lawsuit against the social networking company, lead underwriter Morgan Stanley and several other Wall Street … http://www.truthdig.com/eartotheground/item/facebook_sued_by_investors_over_ipo_20120523/

Facebook Sued Following IPO

Facebook shareholders have filed a lawsuit against the company, it's chief executive Mark Zuckerberg, and several banks. http://www.wifr.com/news/headlines/Facebook_Sued_Following_IPO_153255505.html

Facebook sued while stock climbs after rocky start

Facebook sued while stock climbs after rocky start, Fallout from Facebook's initial public offering intensifies, and more questions arise about whether the social-networking giant's IPO was handled properly. http://www.azcentral.com/business/articles/2012/05/23/20120523Scrutiny-of-Facebook-IPO-builds.html

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5 Responses to Facebook Sued

  • News junkie says:

    Should We All Join This Lawsuit Against Facebook? People who invested in facebook last Friday are already suing the investment banks, facebook and Zuckerberg himself because they’ve lost money. The investment banks did raise the range of the IPO price shortly before the IPO and more shares were offered than expected, so more share for same amount of money equals lower price. Anyway, should we all join in the american tradition and join this lawsuit? Reality is not relevant, neither is the fact if anyone actually invested, it’s just joining the opportunity to sue people, it’s american tradition. It’s now a human right to make money.

  • Ivan S says:

    Who Inflated The Facebook IPO Stock Balloon? FB controls almost no physical assets & has only about 3,000 employees. Their turnover last year ~ 3 billion and profits around ~ 1.5 billion. In value per share of $38 capitalization market is around 105 billion. This means that the P / E = 70, compared to ~10-12 for Apple! Apple does have quite a solid business, as all indicators show. Even if we assume a P / E = 15 (true that it is better to use P / E compared to Google’s case, but a rough estimate is at stake) this makes a real market capitalization of 22.5 billion dollars, which makes roughly 8.15 $ per share! So if this assessment is correct, there’s a long way to go down for the FB shares. Even a child can make this simple assessment and realize what a huge overinflated balloon this is!
    So I’m asking, who inflated the Facebook balloon and got all the investors to “invest” the pension funds and the 401k’s of the people into this pyramid scheme? (out of personal interest and to sue his ass!)
    I didn’t personally invest in this, because it was an obvious money hole, but the company who manages my pension fund did, without even asking me! And now my saving’s performance is tragic!

  • Anonymous says:

    Question About Facebook Status About Graduating From High School? Okay so i will be graduating from high school next week and i want to write this dr. sue quote, ” don’t cry because it’s over. smile because it happened-Dr. Seuss,” (after graduating), BUT i also want to write the classic phrase, “OMG! I have officially graduated from high school!” So is there any way I can combine those two statements together? or should i just put one? what’s ur take on this?

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